Wilmar to buy Chinese yeast and bakery business with UK's ABF
The firms will construct a new yeast plant in Qiqihar City.
Wilmar International’s subsidiary, Yihai Kerry Arawana Holdings, has formed a 50:50 joint venture with British F&B group Associated British Foods (ABF) in China for the manufacture, sale and distribution of yeast and bakery ingredients.
The firms will acquire the existing Chinese yeast and bakery ingredients activities of AB Mauri, a division of ABF, and 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.
The joint venture company will be headquartered in Shanghai, China. Completion of the joint venture is subject to regulatory approvals.