Sector News

Soft drinks firm Co-Ro acquires Chinese distribution company

November 27, 2018
Food & Drink

Danish soft drinks firm Co-Ro has bought the majority shareholding in Chinese distribution firm Golden Creation Trade (JKD).

The deal, which Co-Ro said marks a “large two-digit CNY million investment” is expected to generate 30% growth in 2019 for Co-Ro in China in the hotels, restaurants and catering sector.

JKD holds brand distribution licenses for a range of products in catering, including a license to sell juice products under the Huiyuan brand.

Co-Ro said it will now be able to tap into JKD’s “vast distribution net” as well as expand its product offering.

Søren Holm Jensen, CEO of Co-Ro, said: “Co-Ro’s acquisition of JKD perfectly underpins our growth strategy in Asia. The Asian market is very important to us, as it represents approximately 25% of our total turnover. In addition, the Chinese market is our largest one in Asia and clearly essential because of the high growth rate.”

He added: “Co-Ro is very pleased with the acquisition of JKD, a strategic step which enables us to realise growth as part of our general expansion plan for Asia. It is a great opportunity for increasing our Asian footprint with China as spearhead.”

During 2019, Co-Ro and JKD will become integrated as one which over time will allow for “significant synergies”, the Danish firm said.

Upon completion of the deal, Co-Ro said it will be “the only player on the Chinese market with a national distribution net of concentrated juice to the horeca sector”.

Source: FoodBev

comments closed

Related News

September 25, 2022

Coca-Cola names new president of global ventures

Food & Drink

The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.

September 25, 2022

Perfect Day allies with Onego Bio to speed-up launch of animal-free eggs

Food & Drink

US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.

September 25, 2022

EU fails on food waste: Report reveals bloc discards more than it imports

Food & Drink

Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.