Standard Chartered will invest US$83mn into the world’s biggest livestock exporter Wellard through the bank’s private equity business.
The funds will be invested through a convertible note, which on conversion will make Standard Chartered Private Equity (SCPE) Wellard’s second largest shareholder, after the Balzarini family.
The funds will bolster Wellard’s drive to build its vertically integrated business across the Middle East, Eastern Europe, Southeast Asia and China.
“SCPE is the perfect partner for Wellard to achieve both companies’ business goals,” says Wellard executive chairman Mauro Balzarini.
“Through its investment in Wellard, SCPE has assessed and endorsed Wellard’s 10-year business strategy, the strength of its balance sheet and the quality of its management,” he adds.
“SCPE is the perfect partner for Wellard to achieve both companies’ business goals.”
Alastair Morrison, global head of SCPE, echoes Balzarini’s sentiment: “We target investments in fast growing companies with proven business models, run by highly capable and trustworthy management teams. Wellard fits into every one of those criteria.”