Bright Food
 | |
| Company type | State-owned limited company |
|---|---|
| Industry | Beverages Consumer goods Food |
| 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 | Shanghai Municipal Government |
| Subsidiaries | |
| Website | www |
Bright Food (officially Bright Food (Group) Co., Ltd.) is a Chinese multinational food and beverage manufacturing company headquartered in Shanghai. It is the second-largest Chinese 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]
History[edit]
In 1954, Songjiang Division Office decided to build a farm on the seashore of Fengxian. In 1959, Shanghai Municipality also decided to build farms on Chongming Island. At the time of 1960, 16 farms are built on the beach in Fengxian County and on Chongming and Changxing Islands. To administrate these farms, Shanghai Agricultural Reclamation Administration (上海市农垦管理局) was set up in 1963 and was renamed to Shanghai Farm Administration (上海市农场管理局) in 1970. During this time, Huangshan Tea and Forest Farm and Lianjiang Farm was established in Anhui. In 1973, Shanghai Municipal Shanghai Farm (上海市上海农场) was officially established in Dafeng, Jiangsu as an exclave. In 1980, Shanghai Municipality decided to establish the Shanghai Agricultural Reclamation and Industrial and Commercial Joint Enterprise Corporation (上海市农垦农工商联合企业总公司), which is the other brand (一个机构、两块牌子) of the Farm Administration. In 1994, the Farm administration was officially transformed into a company, Shanghai Agricultural Industry and Commerce (Group) Corporation (上海市农工商（集团）总公司), and the brand of Farm administration was reserved for transition period proposes.[4] In 2004, the group was renamed to Shanghai NGS (Group) Co., Ltd.(上海农工商（集团）有限公司), a state-own limited company.[5] In 2006, With Yiming No.1 Food Factory (Group), the holder of the Bright brand, Shanghai Sugar Industry Tobacco and Alcohol Group and some subsidiaries of Jinjiang International merged, a new food group was established and NGS Group was renamed to Bright Food (Group) Co., Ltd.
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.[6] However, as of September 2015, Bright Foods hold a 39.12% stake in Synlait.[7]
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.[8]
In August 2011 Bright Food agreed to acquire a 75% stake in the Australia-based food producer Manassen Foods for A$530 million.[9][10]
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.[11][12] This majority stake is set to be sold to US company Post Holdings for US$1.8 billion as of 18 April 2017.[13]
In May 2014, Bright Food agreed to acquire a 56% stake in the Israeli Dairy producer Tnuva for the sum of US$2.5 Billion.
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.[14]
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.[15] 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.[16]
Products[edit]
Bright Food's products include:[17]
- 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.
[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]
- ^ a b c d "Bright Food to buy Australian producer". Shanghai Daily. 16 August 2011. Retrieved 22 May 2012.
- ^ "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.
- ^ "光明食品（集团）有限公司".
- ^ 上海市地方志办公室 (Office Of Shanghai Chronicle). 上海通志. 上海人民出版社. Retrieved 23 August 2019.
- ^ 上海农工商（集团）有限公司 (9 June 2004). "上海农工商(集团)有限公司关于本公司改制重组的报告书". 上海证券报. 新浪网. Retrieved 23 August 2019.
- ^ "China's Bright Dairy invests in NZ's Synlait". China Daily. 19 July 2010. Retrieved 22 May 2012.
- ^ "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.
- ^ "Weetabix to be sold to US company Post Holdings". BBC. 18 April 2017. Retrieved 18 April 2017.
- ^ reuters.com: "China's Bright Food buys majority stake in Italian olive oil group" Archived 2015-09-24 at the Wayback Machine, 7 Oct 2014
- ^ "Chinese buyers want 50 per cent of Silver Fern Farms".
- ^ "Silver Fern confirms Chinese investor".
- ^ "About us - Company Profile". Bright Food. Archived from the original on 28 March 2010. Retrieved 22 May 2012.
Further reading[edit]
- "A Bright future for Chinese food industry". China Daily. 18 May 2012. Retrieved 22 May 2012.
