Chinese firms Sanyuan, an international dairy company, and Fosun, a global conglomerate and investment company, have announced they are to team up to acquire the French margarine and spreads brand St Hubert from its current shareholders.
Established in 1904, St-Hubert is a leading manufacturer of spreads, selling over 35,000 tons per year. It is said to enjoy a leading position in France and Italy and manufactures plant-based yoghurts, drinks, and desserts, in additional to its flagship spreads business.
Sanyuan said it aimed to introduce St Hubert technology into China following the acquisition, adding that the deal would also “strengthen Sanyuan’s product capability and increase its global competitiveness”.
Commenting on the deal, Patrick Cahuzac, CEO of St Hubert, said: “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”.
Source: Fosun (via PR Newswire)