China’s Bright Foods Group Co. Ltd, China’s second largest food producer, has acquired Australian dairy company Mundella Foods through its subsidiary Manassen Foods, also of Australia, in which Bright Foods owns 75%. In 2011 Bright Foods paid $516 million to acquire its majority stake in Manassen which has a strong presence in Western Australia through its ownership of Margaret River Dairy Co. and the olive oil group Don Vica. The newly acquired Mundella, also in Western Australia, was founded in 1972, owns one of the country’s best-known dairy brands, and distributes its products such as yogurts and cheeses through supermarkets and specialty shops. Bright Foods has been targeting overseas acquisitions in Australia, New Zealand, and Europe to expand foreign sales in its major businesses of dairy, wine, sugar, and branded food products. In addition to Manassen in 2011, Bright Foods has acquired French wine merchant Diva Bordeaux, British cereal maker Weetabix, and is currently in talks with Tnuva Food Industries Ltd, Israel’s largest food manufacturer and distributor. Bright Foods controls 5.7% of China’s dairy market – ranking fourth, has a 1.4% share in the country’s packaged foods market and a 1.6% share in China’s ice cream market.
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