OVERLAND PARK, KANSAS, U.S. — Lansing Trade Group, LLC announced on Dec. 8 it has sold equity to New Hope Liuhe Investment (USA), Inc., a U.S. subsidiary of the Chinese company, New Hope Liuhe Co. Ltd. New Hope paid $127,500,000 in cash for a 20% equity interest in Lansing.
Having emerged in the 1980s, currently listed on the Shenzhen Stock Exchange and now having more than 60,000 employees, New Hope Liuhe Co. Ltd. is engaged in the industries of animal feed manufacturing, meat processing, livestock and poultry breeding, importing and exporting trade and animal production. In China, New Hope is a market leader in animal feed sales and meat processing volume.
“New Hope is a respected name in the Chinese agricultural industry,” said Bill Krueger, president and chief executive officer of Lansing. “The opportunity for Lansing to form a strategic alliance with such a significant company fits Lansing’s long-term growth strategy. Having New Hope as a partner will facilitate Lansing’s continued development in China while simultaneously allowing additional growth in Southeast Asia.”
Lansing Trade Group is a commodity merchandising company largely focused on the movement of physical commodities including grains, feed ingredients and energy products within North America and internationally.