Chinese Groups to Acquire French and Italian Spreads Business
Beijing Sanyuan Foods, one of China’s largest state-owned dairy groups, and Fosun Group, the Chinese international conglomerate and investment business, are acquiring St- Hubert, a leading manufacturer of healthy spreads in France and Italy.
Established in 1904, St-Hubert offers a variety of products include healthy spreads, plant-based yoghurts, drinks, and desserts. It is a pioneer in innovative healthy foods, with strong R&D capabilities and several patented technologies. St-Hubert is also the creator of several leading products, such as the first spread with Omega 3 (St-Hubert Omega 3), organic spread (St-Hubert Bio), and spread with DHA (St-Hubert DHA).
In recent years, market demand for healthy food has grown strongly. Sanyuan aims to introduce the healthy food technology of St-Hubert into China.
Guo Guangchang, chairman of Fosun, says: “This acquisition would represent an important and practical step towards China’s mixed-ownership reform. Through this strong partnership, we can maximize advantages of both Sanyuan and Fosun to optimize both parties’ competitiveness. The proposed acquisition also introduces healthy and innovative foods into China and is aligned with the government’s policy to support and drive technological innovation.”
Patrick Cahuzac, chief executive of St-Hubert, says: “Over the last five years, St-Hubert has continued to develop in line with our long-term strategy and commitment to developing products that are both tasty and have health benefits. With the help of Fosun and Sanyuan, we are excited by the prospect of further growing our leadership position in France and Italy and accelerating our international expansion, particularly in the Chinese market which has significant potential.”
The proposed transaction will be submitted to St Hubert’s workers’ council and is subject to clearance from relevant competition and regulatory authorities.
