Thai frozen chicken king makes $1b bet on US

Dhanin Chearavanont’s flagship firm is buying Bellisio for $1.075. The latest sign of Thai tycoons diversifying overseas.

Thai frozen chicken king makes $1b bet on US

Thailand’s richest man Dhanin Chearavanont is stepping down the aisle with US frozen meals firm Bellisio, entering a hyper-competitive market place.

On Thursday his flagship firm, frozen chicken producer Charoen Pokphand Foods, said it had agreed to buy Minneapolis-based Bellisio for $1.075 billion.

The move marks CP Food’s first step into the US, a market it has coveted for years given its size and technological edge in food manufacturing.

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