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Nestle targets China
20 April 2011: Nestle underlined its determination to expand in fast-growing emerging markets with the acquisition of a majority stake in one of China’s best-known regional foods groups.
The deal to buy 60 per cent of the Yinlu Foods Group will spearhead its push into products geared to local tastes. Yinlu, which has had a long association with Nestle as a co-manufacturer of ready-to-drink Nescafe instant coffee, makes ready-to-drink peanut milk and ready-to-eat canned rice porridge. The deal will deepen Nestle’s penetration in China, where the Swiss group is already known for its international Nescafe, Maggi and Kit Kat brands, as well as some products sold only domestically.
Source: Financialtimes