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People's Daily Online>>China Business

Bright Group: Ambition, patience are valuable

By Ma Jie (People's Daily Online)

15:28, November 29, 2011

Edited and Translated by People's Daily Online

With two successes in six acquisitions, the Bright Food Group's international acquisitions have achieved a success rate equal to that of the top 500 companies of the world — from a statistical point of view.

However, the details beg closer inspection than that. By making six acquisitions in two years, the Bright Food Group demonstrated at least two points: first, determination to win without flinching from failures; second, clear strategy and bold practices, simultaneously pushing forward in American and European markets.

It was such ambitious determination to win that enabled the group to continue to forge ahead without turning back after four unsuccessful acquisitions in a row. Giving up voluntarily four times has caused discussions, worries, as well as doubts from the industry, media and authorities, but the group persisted. Were it not for ambition and dauntless courage, it could not be done.

The ambition and determination showed by the Bright Group in international acquisitions should be regarded as a valuable quality for Chinese enterprises, especially state-owned enterprises. It is worthy of applause. However, ambition and determination alone is not enough. There must also be a clear strategy; at least, sufficient acquisition targets to start with. It can be inferred that if the fifth and sixth acquisitions had also been unsuccessful, the Bright Group still would continue to make acquisitions.

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