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Nestlé SA Settles On Six Major Bidders For Yinlu Foods Group

July 17, 2020: 12:00 AM EST
The list of bidders for the company’s Chinese business unit was trimmed to six, including three food and beverage companies and three private equity firms. Yinlu Foods Group, a maker of instant porridge and Nescafe ready-to-drink coffee, could fetch at least $400 million. Binding bids are due by the end of August from China Resources Beer Holdings Co., Tingyi Cayman Islands Holding Corp., Dali Foods Group Co., FountainVest Partners, Affinity Equity Partners, and Citic Private Equity Funds Company management have also been invited to participate in the bidding. Yinlu, which specializes in the production and sale of canned foods and beverages, was acquired by Nestlé in 2011.[Image Credit: © Yinlu Food Group Co., Ltd]
"Nestlé Narrows Bidders for Yinlu Foods Unit in China", Bloomberg News, July 17, 2020, © Bloomberg LP
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