Brasil Foods has revealed it is in talks to set up a joint venture in China with local food maker Dah Chong Hong.
The Brazilian food company said yesterday (31 May) that discussions were “underway” and that it had signed a “preliminary of intent” over the venture.
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The venture would access DCH’s distribution networks in mainland China, Hong Kong and Macau and “further access local processing capacity” to develop retail and foodservice products under Brasil Foods’ Sadia brand, the company explained.
“Brasil Foods will make an appropriate and immediate announcement to the market of any concrete fact resulting from the above discussions,” it added.
Last week, in another announcement to Brazil’s stock exchange, Brasil Foods said it had written to fellow Brazilian food maker Indústria de Alimentos Nilza to table its interest in buying a set of dairy assets. Brasil Foods said it had stated its “preliminary interest” in holding talks over a milk processing in Sao Paulo.
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