Chairman Wang Zongnan meets with Chinese ambassador to UK (2)

On May 15, Wang Zongnan, Party Secretary and Chairman of Bright Food (Group) Co., Ltd., met with Liu Xiaoming, Chinese Ambassador to the U.K., in London. They exchanged views on the development of Bright Food Group and Weetabix.

Liu extended his cordial welcome to the visiting delegation led by Wang and said that the Bright Food Group’s acquisition of Britain-based Weetabix – also the biggest overseas M&A ever seen in China’s food sector – not only laid a solid basis for the group’s self-development and globalization expedition, but stood as a valuable precedent for Chinese enterprises with global vision. He also revealed that he was a loyal customer of the breakfast cornmeal of Weetabix – a household name in the U.K. representing health and delicacy. Liu hoped Chinese embassy in the U.K. could make positive contribution to the brighter future of Bright Food Group and Weetabix.

Wang expressed appreciation for Liu’s hospitality, and introduced the latest development of Bright Food Group. According to Wang, Bright Food Group ranked the 87th among the Top 100 Chinese Enterprises, with business revenue reaching 90.6 billion yuan in 2012. The global reputation and influence of Bright Food Group has also been substantially enhanced over recent years, thanks to the its proactive efforts in tapping overseas market, conducting overseas mergers and acquisitions, and building a strong global operation team, as part of its globalization strategies to make the best use of resources and the outlet network across the world. According to U.N. statistics, transnational business index for Bright Food Group approached 12 percent in 2012, ranking the 61st place among the top 100 Chinese transnational corporations. Wang felt confident that with the acquisition of Weetabix, a globally famed brand backed with powerful R&D, innovation ideas and sound profit-making capability, Bright Food Group is well poised to learn from advanced management experiences and skills in the world and upgrade its position in the sector.

Also present in the meeting were Cao Xiaofeng, member of the group’s Party committee and CFO of Bright Food Group, and heads of Global Operation Team in Bright Food Group.