China’s appetite for buying international food producers has grown at a record pace so far this year, reflecting growing middle-class hunger for a more affluent diet in the world’s second-biggest economy.
Outbound mergers and acquisitions in the food and beverage industries accounted for 17 per cent of total M&A in China in the year to date, almost on a par with the 20 per cent from the energy and power sector – traditionally the biggest deal generator, according to Thomson Reuters.
The targets include Hollick, the Australian winemaker, and Tnuva, the Israeli cheese and consumer foods supplier, as well as the trading arms of companies involved in the pricing and flow of agricultural raw materials around the world.
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