The acquisition will greatly enhance the competitiveness of Bright Group against leading domestic food oil firms such as COFCO, Luhua and Jinlongyu. Moreover, the group will be able to take on foreign brands, notably those from Spain and Italy. Imported olive oil retails at over 100 yuan (US$16.30) a bottle in China, much higher than indigenous brands.
Bright Group’s overseas initiative has also been seen by its takeover of other foreign firms including New Zealand dairy producer Synlait and Inuva of Spain.
Article sourceChinese move toward to top of the global olive oil market,