Date
26 September 2017

Huiyuan to acquire Suntory Shanghai Foods units, filing says

Beverage maker China Huiyuan Juice Group Ltd (01886.HK) said in a regulatory filing Thursday it is acquiring the entire interest in Suntory (Shanghai) Foods Co. Ltd., a unit of Japanese beverage producer Suntory Holdings Ltd., and a 50 percent stake in Suntory (Shanghai) Foods Marketing Co. Ltd. for a combined 117.66 million yuan (US$18.89 million). Suntory Holdings also agreed to buy an unspecified amount of Huiyuan’s new shares which will be issued later. Huiyuan sees the deal as a strategic partnership with Suntory in the areas of product development, quality control and procurement and supply management and expects it to benefit Huiyuan’s expansion into domestic tea and coffee drink businesses.

– Contact HKEJ at [email protected]

MY/AC/CG

 

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