Nestle takes majority stake in Yinlu Foods

Edited and translated by Zhang Hongyu, People's Daily Online

Beijing --International food giant Nestle and Fujian-based Yinlu Foods Group held a ceremony to mark the completion of Nestle's purchase of 60 percent stake in Yinlu on Nov. 17.

Both sides plan to invest 2.5 billion yuan to increase Yinlu's production capacity and build new productions bases.

Taking advantage of Nestle's global influence and worldwide market network, Yinlu hopes to tap the international market.