Lesaffre has acquired a majority stake in Biohymn Biotechnology, a Chinese company specialising in the production of yeast and yeast extracts, for an undisclosed sum.
The deal aligns with Lesaffre’s goal of expanding its presence and offering to Chinese customers and ensuring greater proximity to its clients.
With the investment, Lesaffre said it will not only strengthen its position in the baking industry but also in the field of food taste and pleasure, in animal nutrition and health, and in nutriments for biotechnologies.
Established in 2012, Biohymn Biotechnology produces yeast and yeast extracts mainly for China. The company is based in Linxi County in which its region inner Mongolia is surrounded by sugar beet and corn cultivation.
Lesaffre has been present in the Chinese market since the 1980’s with its Saf-Instant yeast brand and industrially for more than 20 years.
In 1999, the company acquired a yeast plant at Ming Guang, while in 2010, new plants were commissioned at Guangxi in partnership with sugar producer Donta.
This was followed by the purchase of a majority stake in Sungain in 2015. Located also in the Guangxi region, Sungain is mainly engaged in cane sugar production with subsidiaries in the yeast industry.
Today, Lesaffre owns three production sites and operates four baking centres in China.
“With this new significant investment, we are establishing our will to be close to our customers, to offer them our products and services and fulfil their specific requirements. We aim to answer to the increasing market demand, especially yeast for mantou, but also in animal nutrition and biotechnologies,” said Antoine Baule, CEO of Lesaffre.
Jean-Philippe Poulin, president of China region at Lesaffre, added: “This partnership between Lesaffre and Biohymn will create great synergy, our joined expertise will contribute to develop the main sugar production region in the north China. We will leverage the localisation of Biohymn to further develop the North China market by better serving bakery, animal health and nutrition and biotech markets.”
Su Yanliang, chairman of Biohymn said: “Biohymn Group has indispensable advantage in resources in Northern China. Therefore, the cooperation between Biohymn and Lesaffre is a win-win and mutually beneficial partnership between two strong players in the market.”
By: Emma Upshallon
Source: Food Bev Media
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