The two firms signed a joint venture agreement on 31 December, 2012.
The new venture will allow both companies to better capitalise on business opportunities in China. We-e’s existing understanding of the Chinese market will provide Virginia Dare with a turn-key operation in China.
Virginia Dare brings its vast flavour portfolio, applications experience, technology base, and internationally recognised expertise in vanilla, tea and coffee to the joint venture.
Virginia Dare is a privately held flavour and extract company founded in 1923. Located in New York (US), the company creates and supplies high quality flavours for the food, beverage, nutritional and pharmaceutical industries.
Virginia Dare president, Howard Smith, said: “A joint venture with a local champion makes our entry into China unique. It brings us closer to our customers in China and provides us with immediate access and cultural knowledge in a critical market.”
Source: Virginia Dare
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