Germany’s Brenntag acquires Zhongbai to expand its Chinese food and nutrition business

CHINA – German Chemical and ingredients distribution company, Brenntag, has announced plans to acquire Chinese speciality ingredients supplier Zhongbai Xingye Food Technology (Beijing) Co. Brenntag aims to expand its food and nutrition business in China through the acquisition and has described the move as an “important step for our company to become a full-line distributor of food ingredients in the Asian market”. “The chemical distribution market in Asia Pacific, and especially in China, is growing dynamically,”  said Christian Kohlpaintner, CEO of the Brenntag Group. “We see a substantial potential there,…

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Adisseo and Calysta’s Joint Venture to build world’s first commercial-scale single-cell protein production facility in China

CHINA –  Calysseo, an alternative protein  joint venture between worldwide animal nutrition leader Adisseo and protein innovator Calysta, is building a first facility in Chongqing, China. In a joint release, Adisseo and Calysta said that upon completion in 2022, the China facility is expected to become the world’s first commercial-scale production facility of single-cell protein. The facility is a paradigm shift in protein production as it uses no arable land and almost no water in its production, making it a completely new sustainable way of making alternative proteins. “Calysseo’s facility…

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Chinese KFC and Pizza Hut targets to reduce 8,000 tons of non-biodegradable plastics annually in new sustainability drive

CHINA – Yum China – the operator of fast food chains including KFC in mainland China – has launched a raft of plastic reduction and sustainable packaging initiatives across its brands. As a result of these actions, Yum China says that it expects to see a reduction of approximately 8,000 tons in non-degradable plastics annually starting this year. According to Yum China, the initiatives are in line with the latest regulations in China, while also aligning with its company-wide packaging strategy, which includes the goal of a 30% reduction in…

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China to boost corn production amid spike in demand and drop in national reserves

CHINA — Chinese authorities have revealed that the nation will be keen on increasing its corn acreage to meet the spiking demand of the yellow grain. According to a statement from Tang Renjian, the new Chinese Minister of Agriculture and Rural Affairs, the government is currently focusing on expanding corn acreage in the northeast and around the Yellow River, Huai River and Hai River. The new push for increasing corn production comes after China depleted its corn reserves due to rising corn prices.  Importers have been bringing in record amounts…

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Canadian frozen food company McCain invests US$200m in development of new potato plant in China

CHINA – Canadian-based and world’s largest manufacturer of frozen potato products, McCain Foods is planning to invest US$200 million to construct a second local potato production facility in China. McCain food says the investment builds on its 25 years’ presence in China and aims to meet the growing demand for its potato products in the country. Located in Yangling Agriculture Hi-Tech Development Zone, Shaanxi Province, the new facility will expand McCain’s local production network in China. The US$200m facility will join the company’s existing potato processing facility in Harbin, Heilongjiang…

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China Mengniu Dairy acquires additional stake in Shanghai Milkground

CHINA – China Mengniu Dairy, through its subsidiary Inner Mongolia, has agreed to increase its stake in Chinese cheese manufacturer Shanghai Milkground for a total value of ¥3 billion ($459 million). The transaction which includes the purchase of more than 100 million shares, will see Inner Mongolia increase its stake in the Chinese dairy company to 23.8% from the 5% it acquired in March. Upon completion of the deal, Inner Mongolia will become the controlling shareholder of Shanghai Milkground, a position which was previously held by Ms Chai. Shanghai Milkground…

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New functional milk enhancing mobility during ageing launched by Nestlé

CHINA – Swiss manufacturing conglomerate, Nestlé has launched Yiyang Active Milk- a functional milk product for ageing adults consisting of ingredients to support bone health, muscle strength and joint functionality. The product which was launched in China by the Swiss food group comes at a time when consumers globally are becoming increasingly concerned about healthy ageing. It is this concern that makes Matthew Incles, market intelligence manager at Leatherhead, to be confident that opportunities exist in the development of functional food and beverage products for ageing consumers. Incles notes that…

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Chinese e-commerce giant JD.com invests US$700m in online grocery platform Xingsheng

CHINA – Chinese ecommerce giant JD.com is investing US$700 million in acquisition of additional stake in community group-buying platform Xingsheng Preference Electronics limited. The share acquisition will give JD.com some level of control in the company and provide it with a platform from which it will officially join the online fresh foods market. Xingsheng which is based in the Chinese province of Changsha serves community families across 14 provinces of the Asian country. It allows consumers to purchase fresh produce and other daily supplies through a WeChat mini-programme and then…

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Yonghui Fresh Food raises US$153m in round backed by Chinese tech giant Tencent

CHINA – Yonghui Fresh Food, a produce-based B2B subsidiary of leading Chinese supermarket group Yonghui Superstores, has raised US$153 million in a funding round jointly led by Chinese tech giant Tencent and leading Chinese investment banking firm CICC. Yonghui Fresh Food was also able to attract investment from other investors inkling China Merchants Bank, Minsheng Equity Investment Fund, and Greenwood’s Investment. The company’s parent company Yonghui Superstores and other exisiting investors including Asia- focused PE firm Hillhouse Capital and Sequoia Capital also particiapated in the funding round. Founded in 2011,…

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Cultivated meat start-up, Avant Meats raises US$3.1m to commercialize operations

HONG KONG – Avant Meats, a Hong-Kong based cultivated meat start-up, has raised US$3.1 million in a seed funding round to fuel the commercialisation of its cultivated fish products. The funding comes at a time when Singaporean authorities gave San Francisco based food tech start-up Eat Just a license to sell lab grown meat to its citizens. According to Avant, it is the first cultivated meat biotechnology in China and the only cultivated fish company in Asia. Using its patent-pending proprietary technology, Avant produces animal-free proteins for food and skincare…

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