Want Want China Holdings Limited recently published an announcement, stating that the company's direct wholly-owned subsidiary Want Want Hong Kong Holdings Limited will invest CNY50 million to acquire the entire stake of San Want Holdings Limited.
According to the announcement, San Want is mainly engaged in the production and sales of fresh eggs. By December 31, 2018, the company's net assets were about CNY32.05 million. The company's sales in 2017 were CNY481,000 and its sales in 2018 were CNY10.727 million.
Want Want China said that fresh eggs used in its snack food are supplied by various Chinese suppliers and the company has become a major client of San Want. By acquiring the target company, Want Want will be able to ensure the stable and transparent upstream supply of fresh eggs.
Based on Want Want China's latest released financial report, the company's operating revenue in 2018 financial year was CNY20.71 billion, a year-on-year increase of 2.8%; and its net profit was CNY3.48 billion, a year-on-year increase of 11.6%.
Currently, Want Want China's main products include dairy products and drinks, snack food, and alcohol.