The Next Billion:

Supporting Better Agriculture


Answering the Demand for Safer Food

Demographic changes such as a rising middle class in emerging markets have fueled demand for higher-quality food items, including milk, meat, and seafood. However, these products often face inconsistent quality and varying food safety standards when produced within an underdeveloped food system. Developing markets have historically offered significant opportunities for operational improvements as agricultural businesses evolve from independent, disconnected operations to scaled, vertically integrated companies.

During the last decade, KKR has made multiple investments in Chinese agricultural companies that focus on food safety. KKR first invested in Modern Dairy in 2008 to help develop a business solution to address the demand for safer and healthier dairy products in the region. KKR’s ability to add value to Modern Dairy, hand in hand with the Firm’s growing focus on food safety, has enabled subsequent investments in various companies, including:

  • Asia Dairy, an integrated dairy producer
  • COFCO Meat, an integrated pork producer
  • Fujian Sunner Development, a vertically integrated poultry producer
  • Jiangsu Yuguan, an agaricus mushroom producer
  • Ma Anshan Modern Farming, an integrated dairy producer
  • Masan Nutri-Science, a fully integrated branded meat platform
  • PT Japfa Comfeed, an integrated chicken feed and poultry producer
  • Yuehai Feed Group, an aquatic feed and nutrition solutions company

As strong proponents of food safety, these companies welcomed our partnership and the opportunity to enhance their processes and protocols by partnering on best practices.

Case Study

Yuehai Feed Group: Investing in Aquatic Feed and Nutrition Solutions (2015) >

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Case Study

Japfa Comfeed: Focusing on Food Safety (2016) >

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