KKR Takes 18% Stake in Sunner with $400M Investment
May 19, 2015
KKR has acquired an 18% stake in Fujian Sunner Development (SZE: 002299) for $400 million. Aiming to increase its production volume by 30% this year, Sunner is a vertically integrated chicken meat producer. The company is the largest breeder, processor and supplier of chicken products in China, providing fresh and frozen chicken for the country's fast food industry, food manufacturing industry and meat wholesale markets. On a per share basis, KKR paid RMB12.3 ($2).