New Hope Investment Fund, a private equity fund headquartered in Beijing, China, has acquired Ruprecht Co., the oldest beef processor in the Chicago area. New Hope is the major shareholder of Kilcoy Pastoral Company, one of Australia’s largest beef processors, reports Crain’s Chicago Business.
Ruprecht Co., founded in 1860, employs about 270 people and is headquartered in Mundelion, Ill. Eric Anderson, a spokesperson for Ruprecht, said the acquisition will bring more supply into Ruprecht and therefore expand is operations.