Japanese industrial conglomerate Mitsui & Co. and China’s Bright Food Co. have struck a co-operation deal to explore business opportunities in China’s food market.
Under the partnership, the two companies will work together in several food sectors, notably dairy processing and sugar. For example, Mitsui will help Bright Food, which enjoys a 15% share of China’s sugar market, to adopt Japan’s advanced technologies for sugar refining to win more sales, a Mitsui spokesperson told just-food.
There will also be co-operation on marketing, the spokesperson said. “We will also hold regular food events at the department stores owned by Bright Food, introducing Japanese foods and manufacturers to the Chinese market, providing opportunities for these manufacturers to expand businesses to China,” the spokesperson explained.
The partnership will also develop Synlait Milk, a New Zealand-based company and subsidiary of dairy products group Synlait Ltd. Bright Dairy & Food Co., a subsidiary of Bright Food, bought a 51% stake in Synlait Milk in July. Mitsui owns a 22.5% shareholding in Synlait Ltd.