Bright Food

Bright Food (Group) Co., Ltd.
State-owned limited company
Industry Consumer goods
Founded 2006 (Shanghai)
Headquarters Shanghai, China
Area served
 Worldwide
Key people
 Lv Yongjie (Chairman)
Products Foods, beverages
Revenue US$7 billion (2011)
Subsidiaries Manassen Foods
Weetabix Limited
Website english.people.com.cn/102775/203908/index.html

Bright Food (officially Bright Food (Group) Co., Ltd.) is a multinational food and beverages manufacturing company headquartered in Shanghai, China. It is the second-largest China-based food manufacturing company measured by 2011 revenues.[1] The company is wholly owned by the Chinese state.

Bright Food has four listed subsidiaries - Bright Dairy & Food Co., Ltd., Shanghai First Provisions Store Co., Ltd., Shanghai Maling Aquarius Co., Ltd. and Shanghai Haibo Co., Ltd.[2]

History

Bright Food was founded in August 2006.[3]

In July 2010 Bright Food agreed to acquire a 51 per cent stake in the New Zealand-based dairy producer Synlait for US$58 million.[4] In September 2010 Bright Food entered into exclusive discussions for the acquisition of the British snack food manufacturer United Biscuits, but the talks did not result in an acquisition being made.[3]

In August 2011 Bright Food agreed to acquire a 75 per cent stake in the Australia-based food producer Manassen Foods for A$530 million.[5][6]

In May 2012 Bright Food agreed to acquire a 60 per cent stake in the British breakfast cereals manufacturer Weetabix Limited in a £1.2 billion deal.[7][8]

In May 2014, Bright Food agreed to acquire a 56 per cent stake in the Israeli Dairy producer Tnuva for the sum of 2.5 Billion USD.

In October 2014 Bright Food agreed to acquire a majority stake in Italian olive oil producer Salov, which includes the Filippo Berio and Sagra Brands.[9]

Products

Bright Food's products include:[10]

Market share

In 2010 Bright Food had a 5.7 per cent share of China's dairy market, ranking fourth.[2] In the same year it had a 1.4 per cent market share in the Chinese packaged foods market and a 1.6 per cent share of the Chinese ice cream market.[2]

References

  1. ↑ "Bright Food Buys 60% of U.K. Cereal-Maker Weetabix". Bloomberg Businessweek. 3 May 2012. Retrieved 22 May 2012.
  2. ↑ 2.0 2.1 2.2 "Bright Food to buy Australian producer". Shanghai Daily. 16 August 2011. Retrieved 22 May 2012.
  3. ↑ 3.0 3.1 "Bright Food eyes UK's United Biscuits". China Daily. 28 September 2010. Retrieved 22 May 2012.
  4. ↑ "China's Bright Dairy invests in NZ's Synlait". China Daily. 19 July 2010. Retrieved 22 May 2012.
  5. ↑ "Bright Food acquires 75% stake in Manassen Foods". China Daily. 29 August 2011. Retrieved 22 May 2012.
  6. ↑ "China Bright Food to buy Manassen for over $516 million". Reuters. 14 August 2011. Retrieved 22 May 2012.
  7. ↑ "China's Bright Food takes 60pc stake in Weetabix". The Telegraph. 3 May 2012. Retrieved 20 May 2012.
  8. ↑ "Chinese food firm wolfs down Weetabix for £720m". The Guardian. 3 May 2012. Retrieved 22 May 2012.
  9. ↑ China's Bright Food buys majority stake in Italian olive oil group
  10. ↑ "About us - Company Profile". Bright Food. Retrieved 22 May 2012.

Further reading

See also

External links