Bright Food (Group) Co.’s purchase of Spain-based food distributor Miquel Alimentacio will be completed this September, making it the eighth case of overseas incorporation completed by the Chinese food company…Full Article: Xinhua Finance Aug 2015
Bright Dairy Food Co. announced on Monday [10 August 2015] that its plan to boost capital via private placement had been approved by the State-owned Assets Supervision and Administration Commission of Shanghai Municipal Government…Full Article: Xinhua Finance Aug 2015
- Bright Foods will acquire a 72% stake in Miquel Alimentacio at a price earnings ratio of approximately 10 (i.e. market price per share divided by annual EPS).
- If its shareholders and China Securities Regulatory Commission approve, Bright Dairy intends to raise a maximum of CNY 9 billion (~US$1.42 billion) by issuing 559 million common stocks.
- In July 2015, the ex-chief of Bright Dairy & Food Co Ltd was being investigated for corruption by the Shanghai branch of the Central Commission for Discipline Inspection (CCDI).
- In June 2015, Bright Dairy announced it would purchase Shanghai Dairy Group’s (also a subsidiary of Bright Food) cattle breeding and raw milk operations.
- In June 2015, Bright Dairy also announced it will spend as much as CNY 9 billion (US$1.45 billion) to purchases parent’s controlling stake in Israel’s Tnuva Food Industries Ltd.
- In February 2015, Bright Food Group was looking to raises its stake in Tnuva to 70% for approximately US$1.29 billion.
- In May 2014, Bright Food Group purchased a 56% stake (~US$2.5 billion) in Tnuva.
- In February 2014, Bright Food Group (parent company of Bright Dairy & Food) and Citigroup are investigating (e.g. due diligence) whether to purchase (US$2.55 billion) Tnuva Food Industries.
- In May 2013, Ireland’s Glanbia (dairy company) signed a memorandum of understanding with Bright Foods Group to supply Avonmore milk to China.
- Bright Dairy & Food is a Shanghai-based subsidiary of Bright Food Group which produces pasteurized milk, fresh milk, yoghurt, ultra-high heat pasteurized milk, milk powder, butter and cheese, and fruit juices. It is one of the largest dairy production and sales companies in China.
- Tnuva, Israel’s largest food manufacturer and distributor, produces frozen pastries, cheese, and other dairy products.