Louis Dreyfus Company has announced a strategic partnership with Chinese e-commerce company Meituan to promote its new cooking oil brand, Chef Fu.
'Value-Added Products'
"This initiative is part of our strategy to move downstream into more value-added products, as we increasingly integrate along the value chain," stated James Zhou, Global Vice President and Head of LDC’s North Asia Region.
"As eating habits change in China, we are committed to providing safe, healthy and cost-efficient cooking oil to the catering industry."
The cooking oil brand has been tailored for Meituan’s B2B channel, leveraging LDC’s 2018 investment in a state-of-the-art crushing plant in Tianjin as well as its global oilseeds and value chain expertise, the company said.
A Market Leader
The partnership will help Meituan in strengthening its B2B channels buy building a 'one-stop-shop' for ingredients required by restaurants and the catering industry.
Commenting on the deal, general manager of purchasing for Meituan B2B platform, Hui Fu said, "This will further enrich our portfolio in packaged cooking oil, to provide safe and reliable cooking oil to Chinese restaurants and consumers."
Over the past few years, demand for packaged cooking oil in China's catering industry has seen double-digit growth, LDC said.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
