Business Intelligence on Retailing, Franchising, and Consumerism in China


China's Bright Food Group Acquires Spain's Miquel

China's Bright Food Group announced in Barcelona that the group has completed its acquisition of Miquel Alimentacio, a food distributor in Spain.

This is reportedly the first time for a large Chinese food company to enter the Spanish food distribution sector.

The deal, which was completed via Bright's wholly-owned subsidiary Shanghai Tangjiu Group Co Ltd, involved an investment of EUR110 million and Bright gained a 72% stake in the Spanish company.

Bright already signed food procurement contracts in several categories, including wine and olive oil, and the group is expected to introduce Miquel's products into the Chinese market in November 2015. By investing in Miquel, Bright hopes to implement comprehensive cooperation with the Spanish company, so as to join forces to realize win-win development.

Miquel is a Spanish market leader in food distribution and wholesale, brand management, and supply chain management. With a history of 90 years, the company has developed four major businesses, including cash and carry, wholesale and retail, food and beverage service, and wholesale export. In 2014, Miquel achieved sales of about EUR900 million.







Image Credit: MattiaATH


Be the first to comment on "China's Bright Food Group Acquires Spain's Miquel"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco