A team of delegates from multinational food and beverages manufacturing company Bright Food is currently visiting various European cities eyeing up opportunities for acquisitions and partnerships.
The Financial Times has today reported that the Chinese state-controlled group, which aims to double its international presence within the next three years, is scouting companies in London, Dublin, Brussels and Barcelona to add to its international portfolio.
Ge Junjie, vice-president of Bright Food, told the FT that the Group want to increase its international foothold from 12% to 25% in three years time.
Bright Food is one of China’s biggest food groups and its third-largest dairy producer by revenues, according to an FT research service.
“I [have] met three sugar and sweetener companies headquartered in London, and two investment banks,” said Mr Ge. “There are lots of opportunities.”
Bright Food, which owns a majority stake in British breakfast cereal maker Weetabix, walked away from a deal with United Biscuits in 2010, but this latest news has re-ignited talk of a partnership.
The Chinese company is currently close to securing a deal to acquire Israeli food company, Tnuva Foods, and agreed a deal to buy Australian company Mundella last month.
© 2014 - European Supermarket Magazine by Enda Dowling
