(Boursier.com) — The Bel Group announces today the acquisition of 70% of the share capital of Shandong Junjun Cheese. This majority stake allows Bel to take a new step in its international expansion strategy and reinforces the Group’s growth ambitions in China, with state-of-the-art production and innovation capabilities.
In a market where Bel aims to take a leading position in the coming years, the Group announces today the acquisition of 70% of Shandong Junjun Cheese. Thanks to this operation, Bel is giving itself the means to achieve and accelerate its leadership ambitions in a booming Chinese market, which is forecasting double-digit annual growth for the next four years.
Shandong Junjun Cheese is based in northeast China – the fourth largest milk production area nationwide – and mainly operates as a co-manufacturer with strong financial, industrial and R&D resources. Founded in 2017, the company has a product portfolio made up of a wide range of cheeses, which have achieved annual growth of more than 100% since 2018. The acquisition made by Bel also includes the authorizations and licenses required to operate Shandong Junjun Cheese factory.
Cécile Béliot, Chief Executive Officer of the Bel Group, said: “With the acquisition of a majority stake in Shandong Junjun Cheese, we are pursuing our growth strategy, expanding our product portfolio and strengthening our industrial footprint. Our desire to accelerating into new territories is at the heart of this growth strategy, as well as the rebalancing of our portfolio around the dairy, fruit and vegetable segments of healthy snacking. We have chosen Shandong Junjun Cheese, a company with industrial capabilities and the innovation potential. This will enable us to increase our influence in the Chinese market and compete for market leadership. We warmly welcome the more than 300 employees of Shandong Junjun Cheese to the Bel Group and look forward to developing together our position successfully.”
The founder of Shandong Junjun Cheese, Mr. Zhao Lu, added the following words: “The partnership with Bel immediately seemed to us to be a win-win approach, with a culture close to ours and strong synergies. With more than 150 years of experience in the cheese field, Bel will allow Shandong Junjun Cheese to continue its development by strengthening its R&D and production capacities.At the same time, our company will contribute to accelerating the deployment of Bel products in China thanks to its state-of-the-art R&D and production facilities, supported by a strong team of experts and entrepreneurs.”
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