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Group Chairman Lv Yongjie investigates Manassen Foods

(People's Daily Online)    11:13, June 26, 2014
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On the afternoon of June 2, Secretary of the Party Committee and Chairman of Bright Food (Group) Co., Ltd. Lv Yongjie and his entourage paid a visit to Bright Food Group's Sydney office, listening to reports on the status of the company's Australian Manassen Foods branch.

In November 2011, Shanghai Tangjiu (Group) Co., Ltd., a branch of Bright Food Group, made investments and acquired 75% of the stock of Manassen Foods, the largest food producer in Australia, thus making Bright Food Group's first move in its effort to go global. The acquisition then became the largest one among all similar acquisitions by Chinese food businesses, and elevated Bright Food Group's influence in Australia. In over two years, thanks to its reputation as a famed food business in Australia, Manassen Foods has significantly enhanced Bright Food Group's visibility and performance in the country by making active adjustments, seeking steady development, achieving synergy, and enhancing mutual trust and cultural fusion. Manassen Foods has begun to focus all attention on its four divisions, namely retail business, catering services, exports, and food manufacturing. Of the four divisions, the retail business division accounts for 61% of the company's business, and products involved in the area are mainly sold at various chain stores, shopping malls, and department stores, and to large wholesalers; the catering services division accounts for 19% of all its business, offering goods to restaurants, cafes, and other places where foods are sold; the exports division accounts for 11% of all the business, sending products to over 30 countries around the world; the food manufacturing division accounts for 9% of all the business, involving cultivating, processing, and producing fruit juices and fresh fruits like citrus.

Chairman Lv Yongjie listened conscientiously to reports by CEO of Manassen Foods Geoff Erby and CFO of Manassen Foods Wayne McIntosh on the growth of Manassen Foods in recent years, affirming his approval for its current business ideology and stressing that agent business is a sort of business to which Bright Food Group will attach special importance in the future. Lv Yongjie then made some comments on what should be done to develop Manassen Foods further as follows: first, the mode in which Manassen Foods operates and its characteristics should be thoroughly studied; second, the question of how to achieve synergy should Manassen Foods and Bright Food be placed together in the Chinese market should be studied, and so should the question of how to maximize the synergic effect; third, as the parent company of Manassen Foods, Bright Food Group should study how to help the company move forward from where it is now; fourth, as a platform Bright Food Group uses to achieve its goal of going global, Manassen Foods should fulfill its duty and make contributions to its globalization effort.

Vice President of Bright Food Group Ge Junjie added some comments about the current state of Manassen Foods, and shared his thoughts about how Shanghai Tangjiu (Group) Co., Ltd. could help Manassen Foods to develop in the future.

(Editor:Yao Chun、Huang Jin)

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