Lianhua Trading Group acquires majority stake in New Zealand's Prime Range Meats
Lianhua Trading Group, a subsidiary of ShenzenLianhuaEnterprise Development Co., Ltd,has been importing beef and mutton in to Chinafrom places like Brazil, Uruguay, Argentina, Australia and New Zealand since the 1990s.
To further add to its portfolio, the company hasrecently increased its stake in New Zealand's meat processor, Prime Range Meats, from 24.9% to 75%.
Prime Range Meats was founded in 1992 and is based in Invercargill, New Zealand. Its main business isprocessing and exporting red meat.The addition capital pumped in by Lianhua Groupwill be used to expand Prime Range Meat's plant.
Having obtained approval from the Certification and Accreditation Administration (CNCA) to export mutton and beef to China, Prime Range Meat is expected to leverage on its Chinese parent company and increase its influence in China.