China Lifestyle Food & Beverages Group and Malaysia’s Cocoaland Industry have entered into a US$5m joint venture agreement to manufacture and distribute fruit gummy products in China. The products will be manufactured under China Lifestyle’s La Bi Xiao Xin and Cocoaland’s Lot 100 brands.
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The JV, which will be called Coco (Fujian) Food Industrial Company, will manufacture and distribute fruit gummy confectionery in the Chinese market. The JV will bring together the manufacturing capabilities of Cocoaland and the distribution network of China Lifestyle, China Lifestyle said.
“With several established manufacturing facilities in Malaysia, Cocoaland has extensive expertise and experience in the manufacturing of quality fruit gummy candies. Our JV with them will expand our product portfolio and enhance our position as a leading lifestyle food and beverages company in the PRC,” China Lifestyle chief executive officer Zheng Yu Long commented.
