Society
Nestle expands in China through Yinlu offerings
Updated: 2011-04-18 15:37
(Agencies)
GENEVA - Swiss food and beverage giant Nestle S.A. is expanding its reach in China by acquiring a controlling stake in Yinlu Foods Group for an undisclosed amount.
|
The deal lets Nestle, the world's largest food and beverage company, expand its instant food products in a fast-growing market.
It said the transaction is subject to regulatory approval in China. Other details including the price of the deal are not being disclosed.
Nestle has operated in China for 20 years and said it is retaining Yinlu's chairman, Chen Qingyuan, to lead his family-owned company in the new partnership.
E-paper
Han me downs
Traditional 3,000-year-old clothes are making a comeback.
Reaching out
Fast growth fuels rise in super rich
Chinese tourists spend more
Specials
Big spenders
More mainland tourists are expected to spend money on overseas travel this year.
Rise in super rich
Report cites rising property prices, gdp as key drivers of increasing number of chinese millionaires.
Reaching out
Condom makers are stepping up their presence in smaller cities to boost sales