Bright Food

Bright Food (Group) Co., Ltd.
State-owned limited company
Industry Consumer goods
Founded August 2006 (August 2006) (Shanghai)
Headquarters Shanghai, China
Area served
 Worldwide
Key people

Qin Dong (President)

Shen Wi Ping (President of Shanghai Mailing)
Products Foods, beverages
Revenue US$19 billion (2014)
Owner Government of China
Subsidiaries
  • Manassen Foods (75%)
  • Weetabix Limited (60%)
  • Bright Dairy & Food Co., Ltd. (100%)
  • Shanghai First Provisions Store Co., Ltd. (100%)
  • Shanghai Maling Aquarius Co.,Ltd. (100%)
  • Shanghai Haibo Co., Ltd. (100%)[1]
  • Tnuva (56%)
  • Società per Azioni Lucchese Olii e Vini (SALOV)
Website english.people.com.cn/102775/203908/index.html

Bright Food (officially Bright Food (Group) Co., Ltd.) is a multinational food and beverages manufacturing company headquartered in Shanghai, China. It is the second-largest China-based food manufacturing company measured by 2011 revenues.[2] The company is wholly owned by the Chinese state.

Bright Food has four listed subsidiaries. Bright Dairy & Food Co., Ltd., Shanghai First Provisions Store Co., Ltd., Shanghai Maling Aquarius Co., Ltd. and Shanghai Haibo Co., Ltd.[1]

Investments

In July 2010 Bright Food agreed to acquire a 51 per cent stake in the New Zealand-based dairy producer Synlait for US$58 million.[3] However, as of September 2015, Bright Foods hold a 39.12% in Synlait.[4]

In September 2010 Bright Food entered into exclusive discussions for the acquisition of the British snack food manufacturer United Biscuits, but the talks did not result in an acquisition being made.[5]

In August 2011 Bright Food agreed to acquire a 75 per cent stake in the Australia-based food producer Manassen Foods for A$530 million.[6][7]

In May 2012 Bright Food agreed to acquire a 60 per cent stake in the British breakfast cereals manufacturer Weetabix Limited in a £1.2 billion deal.[8][9]

In May 2014, Bright Food agreed to acquire a 56 per cent stake in the Israeli Dairy producer Tnuva for the sum of 2.5 Billion USD.

In October 2014 Bright Food agreed to acquire a majority stake in Italian olive oil producer Salov, which includes the Filippo Berio and Sagra Brands.[10]

Silver Fern Farms

In September 2015, Bright Foods expressed interest in New Zealand dairy and meat company Silver Fern Farms by initiating a $100 Million buyout of 50% of SFF.[11]

On September the 15th, 2015, it was reported by The New Zealand Herald that Bright Foods subsidiary Shanghai Maling Aquarius Co., Ltd, had reached a $261 Million (NZD) deal to acquire 50% of Silver Fern Farms.[12]

Products

Bright Food's products include:[13]

Market share

In 2010 Bright Food had a 5.7 per cent share of China's dairy market, ranking fourth.[1] In the same year it had a 1.4 per cent market share in the Chinese packaged foods market and a 1.6 per cent share of the Chinese ice cream market.[1]

See also

References

  1. 1 2 3 4 "Bright Food to buy Australian producer". Shanghai Daily. 16 August 2011. Retrieved 22 May 2012.
  2. ↑ "Bright Food Buys 60% of U.K. Cereal-Maker Weetabix". Bloomberg Businessweek. 3 May 2012. Retrieved 22 May 2012.
  3. ↑ "China's Bright Dairy invests in NZ's Synlait". China Daily. 19 July 2010. Retrieved 22 May 2012.
  4. ↑ https://www.business.govt.nz/companies/app/ui/pages/companies/1600872/shareholdings
  5. ↑ "Bright Food eyes UK's United Biscuits". China Daily. 28 September 2010. Retrieved 22 May 2012.
  6. ↑ "Bright Food acquires 75% stake in Manassen Foods". China Daily. 29 August 2011. Retrieved 22 May 2012.
  7. ↑ "China Bright Food to buy Manassen for over $516 million". Reuters. 14 August 2011. Retrieved 22 May 2012.
  8. ↑ "China's Bright Food takes 60pc stake in Weetabix". The Telegraph. 3 May 2012. Retrieved 20 May 2012.
  9. ↑ "Chinese food firm wolfs down Weetabix for £720m". The Guardian. 3 May 2012. Retrieved 22 May 2012.
  10. ↑ reuters.com: "China's Bright Food buys majority stake in Italian olive oil group", 7 Oct 2014
  11. ↑ http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11507943
  12. ↑ http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11512990
  13. ↑ "About us - Company Profile". Bright Food. Retrieved 22 May 2012.

Further reading

External links

This article is issued from Wikipedia - version of the 11/22/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.