Beijing Sanyuan Foods' Acquisition of French Health Food Brand Approved

On the evening of the 10th, Beijing Sanyuan Food Co., Ltd. (hereinafter referred to as "Sanyuan Food") issued the "Progress Announcement on the Joint Bid for Brassica Holdings Equity." Sanyuan United Fosun bid for Brassica Holdings to acquire 100 per cent of Brassica TopCo S.A. and PPN Management SAS (hereinafter referred to as "Target Company"), both of which are shareholders of St Hubert, France's leading plant food manufacturer. At present, the transaction has been confirmed by the French Competition Authority and the Anti-Monopoly Bureau of the Ministry of Commerce of China without further declaration or review, approved by the Chinese regulatory authorities and approved by the general meeting of shareholders of the company. The buyer and seller are expected to make delivery on January 15, 2018.
According to the data, the French St Hubert Company, founded in 1904, has a history of more than 113 years and currently has an annual sales volume of more than 35000 tons. Its products include plant-based spread sauce series, plant yogurt, plant beverages, desserts, etc. It is a leading French health food brand. St Hubert has strong R & D and innovation capabilities and has a number of patented technologies.
According to reports, Chen Lijun, general manager of Sanyuan shares, said, "after the completion of the acquisition of St Hubert, we will further complete the technological progress of dairy products and the upgrading of the industry through scientific and technological guidance and in-depth empowerment, so as to better meet the needs of consumers".
According to Sanyuan's plan, the company's introduction of St Hubert's healthy plant products will further enrich the product category of China's dairy market. The joint acquisition of St Hubert will realize the complementary and synergistic benefits of Sanyuan and St Hubert, and realize the supplement and improvement of Sanyuan food in the product structure of high-quality healthy food. Sanyuan food will improve the healthy organic food industry chain with the help of St Hubert's advanced production technology and technology.