Iceland-based food company Bakkavör Group has acquired Yantai Longshun Foods, a Chinese vegetable and fruit supplier, for an undisclosed sum.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Longshun Foods supplies vegetables and fruit to the retail and foodservice sectors in China. The company, established in 2001 and headquartered in Lai Yang City, a port 120 km from Quingdao, employs in excess of 240 people.
Bakkavör said the deal, which was financed by Mizuho Corporate Bank, will give it access to a good source of high-quality raw materials, broaden its product portfolio and increase its geographic coverage.
The Reykjavík-based company said Longshun will be consolidated into the group from the acquisition date, but the purchase will not have a material effect on its financial results.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
