Chinese move toward to top of the global olive oil market

Home > News & Articles > Olive Oil Business News > Chinese move toward to top of the global olive oil market

Following a number of setbacks, Bright Food Group, a leading food firm in China, has finally achieved a major breakthrough in its overseas ambitions, announcing the acquisition of a majority stake in Italian olive oil producer Salov on Oct. 7.

The acquisition paves the way for Bright to step into the high-end sector of the global food oil market, as Salov is a leading olive oil brand in US and UK, boasting annual sales of €330 million (US$415 million), with its products shipped to over 60 countries.

On behalf of Bright Group, its subsidiary Yimin Foods inked the agreement with the Fontana family, the controlling shareholder of the Italian firm, in Milan on Oct. 1.

Pan Jianjun, spokesperson for Bright Group, said that that the takeover was signed after one year of talks, taking advantage of the longstanding partnership between the two parties, as Yimin has been Salov’s agent in China, helping the Italian brand sell to supermarkets and other food stores.

Chinese move toward to top of the global olive oil market, 5.8 out of 10 based on 32 ratings

Post Views


601
VN:F [1.9.22_1171]
Rating: 5.8/10 (32 votes cast)
VN:F [1.9.22_1171]
Rating: -1 (from 3 votes)

Leave a Reply

Your email address will not be published.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