Nestlé to enter partnership with Chinese food company Yinlu
(Thomson Reuters ONE) -
Nestlé S.A. /
Nestlé to enter partnership with Chinese food company Yinlu
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Vevey, 18 April 2011 - Nestlé today announced that it had signed a partnership
agreement taking a 60% stake in the Chinese food company Yinlu Foods Group
(Yinlu). Yinlu's Chairman, Mr. Chen Qingyuan, will continue to lead the company
in the new partnership.
The transaction is subject to regulatory approval in China. Other details of the
transaction, including the acquisition price, are not being disclosed.
Family-owned Yinlu is a well established household brand in China and a
significant marketer for ready-to-drink peanut milk and ready-to-eat canned rice
porridge. The agreement builds on an already successful partnership between the
two companies, as Yinlu is a co-manufacturer for ready-to-drink Nescafé coffee
in China. Yinlu's 2010 sales amounted to around CHF 750 million. Yinlu's
products are tailored to Chinese consumers' taste and habits, and complement
Nestlé's existing product portfolio in China, which includes culinary products,
coffee, confectionery, bottled water, milk powder and products for the
foodservice industry. The healthy and nutritious Yinlu products perfectly fit
into Nestlé's global portfolio and emphasise its core strategy as the world's
leading nutrition, health and wellness company.
Nestlé CEO Paul Bulcke: "We will submit this partnership proposal to the Chinese
authorities shortly. It demonstrates our long-term investment in China and our
commitment to further developing local brands. We are proud to build this
partnership to bring healthy, affordable and tasty products to our consumers in
China by combining Yinlu's entrepreneurship, product expertise and consumer
understanding with Nestlé's innovation and renovation capabilities."
Yinlu Chairman Chen Qingyuan: "This partnership represents a very important
landmark in Yinlu's long-standing aspiration to be a relevant and favourite
brand for consumers. Nestlé's proven expertise will undoubtedly provide solid
support for Yinlu's continued growth. Together we will continue to develop our
brand and manufacturing capabilities, in particular in the Central and Western
part of China."
Nestlé has been present in China for over twenty years and today operates 23
factories, two R&D Centres and employs 14,000 people. Nestlé in the China region
achieved sales of CHF 2.8 billion in 2010. Main Nestlé brands in China include
Nescafé, Nan, Maggi, KitKat as well as local brands such as Haoji and Totole.
Nestlé has established several technical assistance initiatives for milk and
coffee farmers in China. For example, Nestlé buys fresh milk from thousands of
farmers across the country, offering them assistance to increase the quality,
quantity and efficiency of their production. In Yunnan province, Nestlé has been
encouraging and supporting coffee cultivation for almost twenty years, and
nearly 4,100 farmers have received direct training on planting, quality control
and processing techniques.
Contacts
International Media: Robin Tickle Tel.: +41 (0)21 924 22 00
Chinese media: Jonathan Dong Tel.: + 86 10 84 34 76 31
Investors: Roddy Child-Villiers Tel.: +41 (0)21 924 36 22
--- End of Message ---
Nestlé S.A.
Avenue Nestlé 55 Vevey
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Source: Nestlé S.A. via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 18.04.2011 - 07:16 Uhr
Sprache: Deutsch
News-ID 53632
Anzahl Zeichen: 4419
contact information:
Town:
Vevey
Kategorie:
Business News
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