Fosun International, the Chinese insurance-to-tourism conglomerate, and Beijing Sanyuan Foods are close to a joint deal to buy French margarine and health food maker St Hubert from Montagu Private Equity, according to a joint statement from the two Chinese firms…Full Article: South China Morning Post July 2017
- The Chinese acquisition of St Hubert, a French company that annually sells ~35,000 MTs of butter spreads, will reportedly total USD 702 million.
- Fosun International (HKG:0656) is the second largest shareholder of Beijing Sanyuan Foods (SHA:600429).
- In July 2016, Beijing Sanyuan Foods announced it would purchase a majority stake in a Canadian dairy, Crowley Properties, for USD 14.58 million. Beijing Sanyuan Foods would purchase Canada’s Crowley Properties through a joint venture in which it would have a 51% stake while Canada’s Proto Capital Investment & Trade Group would hold a 49% stake.
- In May 2014, it was reported that Sanyuan received CNY 10 million (US$1.6 million) from the Beijing municipal government to research and develop infant milk powder. During the same month, the company refuted claims published in the media that it used tainted gelatin to produce yogurt. Specifically, a media report published on 9 May 2014, contended that Sanyuan bought 20 MTs of leather contaminated gelatin from Gelita Cangnan Gelatin, a German firm based in Zhejiang province.
- In June 2008, Sanyuan began supplying Olympics’ related businesses (e.g. hotels, restaurants, sports villages, etc.) in the wake of the melamine food scandal, replacing Yili as the primary Olympics dairy supplier
- Founded in 1997 (origin’s date back to 1957) and headquartered in Beijing (originally in Haidian District), Beijing Sanyuan Food (SHA:600429) produces a wide range of dairy products including UHT (Ultra-High-Temperature processed) milk, yogurt, bagged milk, powdered milk powder, cheese, and various types of milk-based drinks. Sanyuan was only major dairy that was not implicated in the 2008 melamine scandal.
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