CHINA July 2019
Associated British Foods forms JV with Wilmar International subsidiary
Associated British Foods plc (ABF) and Yihai Kerry Arawana Holdings Co., Ltd, a subsidiary of Wilmar International Limited have formed a 50:50 joint venture headquartered in Shanghai, China for the manufacture, sale and distribution of yeast and bakery ingredients.
The joint venture (JV) will acquire existing Chinese yeast and bakery ingredients activities of AB Mauri, a division of ABF, and will leverage Yihai Kerry Arawana's supply chain, extensive sales and distribution network and local market expertise in China.
The JV will also build and operate a new yeast plant co-located with Wilmar's food processing plant in the Taha industrial zone in Qiqihar City, China to boost existing capacity.
The JV will have cost competitive production and combined with an established portfolio of products, will be well-positioned to capture strong growth in both traditional Chinese bakery products and western-style baked products.
“This joint venture is a great opportunity to build on the foundation of our yeast and bakery ingredients business in China. The joint venture will leverage AB Mauri's baking know-how and technology with Yihai Kerry Arawana's extensive route to market, local management expertise and its complementary portfolio of products. We are looking forward to working with Yihai Kerry Arawana on the shared vision of building a successful bakery business together,” said AB Mauri's CEO Cathal Duffy.
Wilmar's Chairman and CEO Kuok Khoon Hong said, “Besides enhancing the range of quality ingredients, this joint venture will enable us to leverage on AB Mauri's baking know-how and technology to provide better service to the baking industry in China.”
ABF is a diversified international food, ingredients and retail group with sales of £15.6 billion (US$19.5 billion) and operations in 50 countries across Europe, southern Africa, the Americas, Asia and Australia. AB Mauri has global presence in bakers' yeast with significant market positions in the Americas, Europe and Asia. It is a leading supplier of ingredients such as bread improvers, dough conditioners and bakery mixes.



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