Bright Food

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Bright Food (Group) Co., Ltd.
State-owned limited company
IndustryConsumer goods
FoundedAugust 2006 (August 2006) (Shanghai)
Headquarters,
Area served
Worldwide
Key people
Qin Dong (President) Shen Wi Ping (President of Shanghai Mailing)
ProductsFoods, beverages
RevenueUS$19 billion (2014)
OwnerShanghai Municipal Government
Subsidiaries
  • Manassen Foods (75%)
  • Bright Dairy & Food Co., Ltd. (100%)
  • Shanghai First Provisions Store Co., Ltd. (100%)
  • Shanghai Maling Aquarius Co.,Ltd. (100%)
  • Shanghai Haibo Co., Ltd. (100%)[1]
  • Tnuva (56%)
  • Società per Azioni Lucchese Olii e Vini (SALOV)
Websiteenglish.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.[2] The company is wholly owned by the Shanghai Municipal Government via Shanghai Municipal Investment Group and another sister company.[3]

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.[1]

Investments[edit]

In July 2010 Bright Food agreed to acquire a 51% stake in the New Zealand-based dairy producer Synlait for US$58 million.[4] However, as of September 2015, Bright Foods hold a 39.12% stake in Synlait.[5]

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.[6]

In August 2011 Bright Food agreed to acquire a 75% stake in the Australia-based food producer Manassen Foods for A$530 million.[7][8]

In May 2012 Bright Food agreed to acquire a 60% stake in the British breakfast cereals manufacturer Weetabix Limited in a £1.2 billion deal.[9][10] This majority stake is set to be sold to US company Post Holdings for 1.8 billion USD as of 18 April 2017.[11]

In May 2014, Bright Food agreed to acquire a 56% 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.[12]

Silver Fern Farms[edit]

In September 2015, Bright Foods expressed interest in New Zealand dairy and meat company Silver Fern Farms by initiating a $100 million buyout of 50% of SFF.[13] On 15 September, it was reported by The New Zealand Herald that Bright Foods subsidiary Shanghai Maling Aquarius Co., Ltd, had reached a $NZ261 Million deal to acquire 50% of Silver Fern Farms.[14]

Products[edit]

Bright Food's products include:[15]

  • Guangming (Bright) dairy products,
  • Guansheyuan foodstuffs,
  • Da Bai Tu (Big White Rabbit) candy,
  • Maling canned foods,
  • Bright ice cream products,
  • Aquarius water,
  • Shikumen rice wine,
  • Yutang sugar,
  • Tip Top pickled foods,
  • Haifeng rice,
  • Aiseng pork,
  • Daying duck meat products, and
  • Shengfeng chocolate.

Market share[edit]

In 2010 Bright Food had a 5.7% share of China's dairy products market, ranking fourth.[1] In the same year it had a 1.4% market share in the Chinese packaged foods market and a 1.6% share of the Chinese ice cream market.[1]

See also[edit]

References[edit]

  1. ^ a b c d "Bright Food to buy Australian producer". Shanghai Daily. 16 August 2011. Retrieved 22 May 2012.
  2. ^ "Bright Food Buys 60% of UK Cereal-Maker Weetabix". Bloomberg Businessweek. 3 May 2012. Archived from the original on 8 May 2012. Retrieved 22 May 2012.
  3. ^ http://www.brightfood.com/cn/about.aspx?Class_ID=12
  4. ^ "China's Bright Dairy invests in NZ's Synlait". China Daily. 19 July 2010. Retrieved 22 May 2012.
  5. ^ https://www.business.govt.nz/companies/app/ui/pages/companies/1600872/shareholdings
  6. ^ "Bright Food eyes UK's United Biscuits". China Daily. 28 September 2010. Retrieved 22 May 2012.
  7. ^ "Bright Food acquires 75% stake in Manassen Foods". China Daily. 29 August 2011. Retrieved 22 May 2012.
  8. ^ "China Bright Food to buy Manassen for over $516 million". Reuters. 14 August 2011. Retrieved 22 May 2012.
  9. ^ "China's Bright Food takes 60pc stake in Weetabix". The Telegraph. 3 May 2012. Retrieved 20 May 2012.
  10. ^ "Chinese food firm wolfs down Weetabix for £720m". The Guardian. 3 May 2012. Retrieved 22 May 2012.
  11. ^ "Weetabix to be sold to US company Post Holdings". BBC. 18 April 2017. Retrieved 18 April 2017.
  12. ^ reuters.com: "China's Bright Food buys majority stake in Italian olive oil group", 7 Oct 2014
  13. ^ http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11507943
  14. ^ http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11512990
  15. ^ "About us - Company Profile". Bright Food. Archived from the original on 28 March 2010. Retrieved 22 May 2012.

Further reading[edit]

External links[edit]