Bel Group has acquired a 70% stake in Chinese cheese producer, Shandong Junjun Cheese Co, as it aims to accelerate its growth in China.
Founded in 2017, Shandong Junjun Cheese is based in north-eastern China and primarily operates as a co-manufacturer. Its portfolio comprises a wide range of cheeses, and has achieved “over…100% annual growth since 2018,” according to Bel.
With the deal, Bel acquires “state-of-the-art” manufacturing and innovation capabilities in China, that will support its aim to strengthen its international footprint.
Bel CEO, Cécile Béliot, said: “With the acquisition of [a] majority stake in Shandong Junjun Cheese, we are pursuing our growth strategy by expanding our product portfolio and strengthening our manufacturing footprint. Our will to accelerate in new territories is at the heart of our growth strategy, as well as our re-balancing around the dairy, fruit and plant-based segments of healthy snacking.”
“We have chosen Shandong Junjun Cheese, a company with huge industrial capabilities and innovation potential. This will enable us to increase our scale in the Chinese market and compete for leadership. We warmly welcome the more than 300 Shandong Junjun Cheese employees to the Bel Group.”
Shandong Junjun Cheese founder, Zhao Lu, added: “With over 150 years of experience in cheese, Bel will enable the further development of Shandong Junjun Cheese by strengthening R&D and production capabilities. Meanwhile, our company will help accelerate the deployment of Bel-branded products in China through its state-of-the-art R&D and production facilities, supported by a strong team of experts and entrepreneurs.”
Terms of the transaction were not disclosed.
© FoodBev Media Ltd 2022
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