Associated British Foods and Wilmar forms China joint venture

CHINA – Associated British Foods plc has entered into a binding agreement with Yihai Kerry Arawana Holdings Co., Ltd, a subsidiary of Wilmar International Limited to form a joint venture in China. The 50:50 JV will be responsible for the manufacture, sale and distribution of yeast and bakery ingredients in the Chinese market. The JV will acquire existing Chinese yeast and bakery ingredients activities of AB Mauri, a division of ABF, while leveraging on Yihai Kerry Arawana’s supply chain, extensive sales and distribution network and local market expertise. The joint…

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