Date
17 November 2017
Fosun chairman Guo Guangchang is upbeat about the outlook of China’s market for mid-range and premium food. Photo: HKEJ
Fosun chairman Guo Guangchang is upbeat about the outlook of China’s market for mid-range and premium food. Photo: HKEJ

Fosun, Osborne join hands to tap China gourmet market

Shanghai conglomerate Fosun International Ltd. (00656.HK) has teamed up with Spanish premium ham and wine producer Osborne Group to tap the fast-growing gourmet food market in China.

“Fosun is optimistic about China’s market for mid-range and premium food… Osborne Group will be able to use Fosun’s global investment capability and channel resources to take advantage of China’s growing consumption,” Fosun chairman Guo Guangchang said in a statement.

Tomás Osborne, chairman of Osborne Group, said this is the first time for the Osborne family to seek a foreign partner for its global business in more than 200 years. He believed the partnership will serve as a window of China’s market for Osborne’s clients, the statement said.

Founded in 1772, Osborne Group ranks first as producer of sherry wine and other spirits in Spain and top-grade Iberico ham. It sells its products in over 50 countries, and has been endeavouring to develop the Chinese market since its first foray into the country in 2010.

Fosun, which was founded in 1992 in Shanghai, relies on insurance, industrial operations, investment and asset management as its key growth drivers.

“We are persistently grasping investment opportunities evolved from the changing lifestyles of the middle class in China and the country’s global economic transformation,” the company said.

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JH/JP/CG

EJ Insight reporter

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