Yum China acquires controlling stake in Chinese casual dining franchise business

CHINA – Yum China Holdings, the KFC, Pizza Hut and Taco Bell operator in mainland China has acquired a controlling interest in the Huang Ji Huang group, one of the leading Chinese-style casual dining franchise […]

Xiangtai Food to acquire controlling stake in Chinese feed solutions provider

CHINA- China Xiangtai Food, an emerging growth company primarily engaged in pork processing in China, has entered into a non-binding agreement to acquire 51% interest in Chongqing Ji Mao Cang Feed Company (JMC). JMC is […]

PepsiCo to hire 6, 000 new employees and provide US$11m to COVID-19 affected communities

USA – Amidst the novel coronavirus (COVID-19) pandemic, PepsiCo has reinforced its strategies to ensure business continuity while contributing to mitigation efforts aimed at curbing the spread an impact of the disease in the US. […]

Sequoia Capital acquires stake in Chinese dairy company Junlebao for US$171m

CHINA – Sequoia Capital China, a Beijing-based investment management firm, has invested 1.2 billion yuan for a 15.26% stake in dairy products company, Shijiazhuang Junlebao Dairy. The investment makes Sequoia Capital the largest institutional shareholder […]

Chinese agricultural group Grass Green acquires majority stake in Sichuan Huiji Food

CHINA – Grass Green Group, the investment arm of New Hope Group, China’s largest privately-held agricultural conglomerate has acquired a majority stake in Sichuan Huiji Food, for an undisclosed sum. Sichuan Huiji Food is a […]

Fonterra reports major progress as half year profits climb to US$298.5m

NEW ZEALAND – New Zealand farmer-owned dairy co-operative, Fonterra lifted its half year net profit after tax to NZD501 million (US$298.5m), up from NZD72 million (US$42.2m), representing a 595.8% growth in reported profit as the […]

Nestlé in talks to sell its Chinese unit Yinlu Foods Group

CHINA – Swiss food and beverage giant, Nestlé is planning to sell its Chinese unit Yinlu Foods Group and has hired US lender and financial services provider, JPMorgan Chase & Co. to handle the divestment, […]

Starbucks extends global roasting network with US$130m roasting facility in China

CHINA – Starbucks will be investing approximately US$130 million in China to open a state-of-the-art roasting facility in 2022, as part of its new Coffee Innovation Park (CIP). As Starbucks largest manufacturing investment outside of […]

AB InBev reports full year results as Corona virus outbreak cuts revenue by US$285m

BELGIUM – The world’s largest brewer, Anheuser-Busch InBev (AB InBev) has released its full year 2019 financial results which show a 4.3% increase in revenue benefiting from growth in volume. AB InBev reported a 3.1% […]

Tesco sells stake in Chinese joint venture to its partner for US$375m

CHINA – British retailer, Tesco PLC has sold its 20% stake in Gain Land to a subsidiary of its joint venture partner, China Resources Holdings for £275 million (US$375m). Gain Land is the Chinese joint […]