ABP Group Secures €50m Asian Beef Deal

16 May 2018 | 02.22 pm

ABP Group Secures €50m Asian Beef Deal

Irish firm will supply Wowprime Chinese restaurants

16 May 2018 | 02.22 pm

ABP Food Group has signed a three-year deal with Asian restaurant chain Wowprime Corporation to supply beef to its restaurants across China. The deal is valued at €50m and was announced at an event in Shanghai today (May 16).

Wowprime is a publicly listed company and operates more than 150 restaurants in China. It offers customers a mix of traditional Asian and Western cuisine across 18 restaurant brands. ABP beef will be available in two of Wowprime’s premium restaurant brands: Wang Steak and Tasty.

Mark Goodman, MD of ABP’s international division, said that the exclusive deal with Wowprime is part of a strategy to find new market opportunities against the backdrop of Brexit.

Earlier this year, ABP Food Group extended its range of premium steaks with YATA, a Hong-Kong-based supermarket chain. The beef products are now available in all of the retailer’s 10 stores in the prefecture. The company also exports Irish beef to the Philippines and Japan.

Wowprime has also agreed to extend the arrangement to include ABP’s UK operations, in the event of the UK gaining market access to China.

Founded by Larry Goodman, ABP Food Group is one of Europe’s biggest privately owned agribusiness companies. It is also the largest beef processor in Ireland and the UK. The company also operates substantial renewable, pet food and protein divisions, employing more than 10,000 people.

Photo: Mark Goodman (right), with Wowprime’s Alan Chien and Stanley Lin, and agriculture minister Michael Creed (centre)

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