Larry Goodman's ABP signs €50m beef contract in China
Larry Goodman's 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.
ABP announced the deal earlier this year, but the forma announcement was made today at an event hosted by the company in Shanghai, attended by the Minister for Agriculture, Food and the Marine, Michael Creed; Mr Stanley Lin, General Manager of Wowprime China and Mark Goodman, Managing Director of ABP’s International Division.
Wowprime is a publically listed company and has 151 restaurants in China. It offers customers a mix of traditional Asian and Western cuisine across 18 restaurant brands. ABP beef will be available in two of Wowprime’s premium restaurant brands: Wang Steak and Tasty.
Mark Goodman, Managing Director of ABP’s International Division said it is a tangible endorsement of the quality beef that Ireland and ABP has to offer.
"It is another significant step in developing new market opportunities for our products against the uncertain backdrop of Brexit. We look forward to working with Wowprime, who are crucial in helping us bring Irish beef to the plates of Chinese consumers.”
Minister for Agriculture Michael Creed said he was "genuinely delighted to be present today to mark the announcement of this ground-breaking deal between ABP Food Group and Wowprime.
"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."
Mr Stanley Lin, Managing Director of Wowprime China said it was delighted to partner with ABP who have made strongest case for the merits of Irish beef, which is sustainable, fully traceable to the farm of origin and hormone free.