Chinese food and beverage company Wahaha Group is in talks to invest in Taiwanese rival AGV Products, according to reports.

The company is hoping to tap into AGV’s R&D capabilities, the Economic Daily News reported today (30 March).

The newspaper also cited unnamed officials at AGV’s parent Nice Group as saying the group may work together with Wahaha in the tourism or recreation business.

AGV is principally engaged in the manufacture, processing and trading of food, as well as a range of beverages including green tea, herb tea and milk tea and a juice series.

The company distributes its products to markets including China, Singapore, North America and Japan.