Irish Beef Processor ABP Secures €50M Contract In China
ABP has secured an exclusive three-year agreement valued at €50 million, with Asian restaurant chain Wowprime Corporation, to supply beef to its restaurants across China.
The announcement was made today (17 May) at an event hosted by the company in Shanghai, attended by the Minister for Agriculture, Food and the Marine, Michael Creed TD; Mr Stanley Lin, General Manager of Wowprime China and Mark Goodman, Managing Director of ABP’s International Division.
“I hope it will be the first of many such transactions for Irish companies. Partnering with large Chinese restaurant companies such as Wowprime is the ideal manner to bring quality Irish beef to Chinese consumers," Michael Creed TD, the Minister for Agriculture, Food and the Marine said.
Wowprime has 151 restaurants in China and ABP beef will be available in two of Wowprime’s premium restaurant brands: Wang Steak and Tasty.
“It is a tangible endorsement of the quality beef that Ireland and ABP has to offer, and it is another significant step in developing new market opportunities for our products against the uncertain backdrop of Brexit,” said Mark Goodman, managing director of ABP’s International Division.
'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,' the company said in a statement.
© 2018 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.