A Chinese food giant buys an Italian olive oil maker

Home > News & Articles > Olive Oil Business News > A Chinese food giant buys an Italian olive oil maker

China’s Bright Food Group Co., which bought U.K. breakfast cereal maker Weetabix Food Co. two years ago, said on Tuesday it is acquiring a majority stake in Italian olive oil maker Salov Group, even as it extended a deadline to buy control of an Israeli dairy company.

The Shanghai-based food company didn’t disclose how much it is paying or the size of the stake it is buying in closely-held Salov, which sells brands such as Sagra and Filippo Berio.

But the deal comes as the acquisitive state-controlled company extended its deadline to acquire Israeli dairy company Tnuva Food Industries Ltd. to Jan. 5, its second three-month extension of a billion-dollar transaction that was expected to close two months ago. It said the extension was because the Shanghai company has yet to submit all the documents needed to the Chinese regulators vetting the deal.

A Chinese food giant buys an Italian olive oil maker, 4.5 out of 10 based on 33 ratings

Post Views


580
VN:F [1.9.22_1171]
Rating: 4.5/10 (33 votes cast)
VN:F [1.9.22_1171]
Rating: -4 (from 6 votes)

Leave a Reply

Your email address will not be published. Required fields are marked *