Xiamen Jindawei Acquires US Health Energy Beverage Company to Complete Delivery
On August 21, Xiamen Jindawei (002626.SZ) announced that the company's wholly-owned acquisition of US Zipfizz Corporation through its wholly-owned subsidiary KUC Holding had completed the delivery. The consideration for this transaction is US $80 million (about RMB 0.509 billion).
xiamen jindawei company was founded in 1997, focusing on health care products, sports nutrition manufacturing. Founded in 2003, Zipfizz is a brand-name company that provides health-promoting energy products related to nutrition and exercise.
The Zipfizz's main brand is "Zipfizz", and its main products are low-calorie, low-carbohydrate, sugar-free, good-tasting, vitamin and mineral-rich sports powders and beverages. Its products are mainly sold in North America through large membership stores Costco, Sam's Club and Amazon (amazon.com), as well as vitamin and nutrition stores, fitness centers and convenience stores.
In 2017, the Zipfizz achieved operating income of $54.08 million and net profit of $7.96 million.
Jindawei said that after the completion of the transaction, the Zipfizz company will form a complementary and synergistic relationship with its overseas business system and explore new growth opportunities. At the same time, it can improve the company's comprehensive competitiveness by fully sharing different types of resources, which will help accelerate the company's strategic development goals in the field of health.
In November last year, Jindawei completed the acquisition of a 14.71 per cent stake in Psupps Holdings, LLC, a US sports nutrition brand company, for US $7.5 million.
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