Bright Food
 | |
| Company type | State-owned limited company |
|---|---|
| Industry | Consumer goods |
| Founded | August 2006 (Shanghai) |
| Headquarters | , |
Area served | Worldwide |
Key people | Qin Dong (President) Shen Wi Ping (President of Shanghai Mailing) |
| Products | Foods, beverages |
| Revenue | US$19 billion (2014) |
| Owner | Government of China |
| Subsidiaries |
|
| Website | english |
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 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.[1]
Investments
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.[3] However, as of September 2015, Bright Foods hold a 39.12% in Synlait.[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.[5]
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.[6][7]
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.[8][9]
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.[10]
Silver Fern Farms
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.[11]
On September the 15th, 2015, it was reported by The New Zealand Herald that Bright Foods subsidiary Shanghai Maling Aquarius Co., Ltd, had reached a $261 Million (NZD) deal to acquire 50% of Silver Fern Farms.[12]
Products
Bright Food's products include:[13]
- 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
In 2010 Bright Food had a 5.7 per cent share of China's dairy market, ranking fourth.[1] 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.[1]
See also
References
- ^ a b c d "Bright Food to buy Australian producer". Shanghai Daily. 16 August 2011. Retrieved 22 May 2012.
- ^ "Bright Food Buys 60% of U.K. Cereal-Maker Weetabix". Bloomberg Businessweek. 3 May 2012. Retrieved 22 May 2012.
- ^ "China's Bright Dairy invests in NZ's Synlait". China Daily. 19 July 2010. Retrieved 22 May 2012.
- ^ https://www.business.govt.nz/companies/app/ui/pages/companies/1600872/shareholdings
- ^ "Bright Food eyes UK's United Biscuits". China Daily. 28 September 2010. Retrieved 22 May 2012.
- ^ "Bright Food acquires 75% stake in Manassen Foods". China Daily. 29 August 2011. Retrieved 22 May 2012.
- ^ "China Bright Food to buy Manassen for over $516 million". Reuters. 14 August 2011. Retrieved 22 May 2012.
- ^ "China's Bright Food takes 60pc stake in Weetabix". The Telegraph. 3 May 2012. Retrieved 20 May 2012.
- ^ "Chinese food firm wolfs down Weetabix for £720m". The Guardian. 3 May 2012. Retrieved 22 May 2012.
- ^ reuters.com: "China's Bright Food buys majority stake in Italian olive oil group", 7 Oct 2014
- ^ http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11507943
- ^ http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11512990
- ^ "About us - Company Profile". Bright Food. Retrieved 22 May 2012.
Further reading
- "A Bright future for Chinese food industry". China Daily. 18 May 2012. Retrieved 22 May 2012.
