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Nestlé Acquires 60 Percent Stake In Chinese Food Company Yinlu Foods

April 18, 2011: 08:36 AM EST
Nestlé has acquired a 60 percent stake in Chinese food company Yinlu Foods Group for an undisclosed sum. Yinlu Chairman Chen Qingyuan will continue as the top executive under the new ownership arrangement, termed a “partnership” by Nestlé. The acquisition must be approved by Chinese regulators before it is finalized. A well-established household brand in China, Yinlu markets ready-to-drink peanut milk and canned rice porridge, and is a co-manufacturer of ready-to-drink Nescafé coffee in China. Yinlu’s 2010 sales were CHF 750 million (US$843 million). Nestlé has operated in China for more than twenty years, with 23 factories, two R&D centers and 14,000 employees.
"Nestlé to enter partnership with Chinese food company Yinlu", Press release, Nestlé, April 18, 2011, © Nestlé
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