Danish Crown to go public
Europe’s largest pork producer Danish Crown has revealed that, in order to finance future growth, it may have to break with its co-operative tradition and either go public or court international investors.
The meat exporting co-operative is owned by nearly 10,000 independent Danish pig and cattle farmers. It also controls 25 slaughterhouses and meat-packaging plants and nearly 100 foreign sales offices worldwide.
However, board chairman Niels Mikkelson told the Jyllands-Posten newspaper that the company will have to raise 5bn kroner in development capital to realise its aim to be one of the three biggest food producers in Europe.
He said: “The company, and thus Danish pig producers, are experiencing a time of historic challenges, where we have to become competitive to ensure our future.
“There isn’t a doubt in my mind that Danish Crown will have to grow quite considerably in coming years to secure itself a lucrative business for the future.”
Danish Crown is a parent company of Tulip, whose brands include Tulip, Danepak, Plumrose, Spam and Stagg.