Zong Qinghou, China’s richest man and chairman of Wahaha, is looking for a wide range of international partnerships in areas from product sourcing to finding green manufacturing production methods, as he seeks to diversify the country’s third-largest soft drinks company by sales and deal with quality problems in the Chinese supply chain.
Mr Zong, who founded the company in 1989, had only recently emerged from a protracted global legal battle with former joint venture partner Danone, in China’s highest-profile foreign investment feud, which was prompted by a trademark disagreement.
Last year, Mr Zong bought Danone out of their joint venture for €300m ($414m), a fraction of what the French company asked for.