On the morning of Oct. 1, 2014 (Beijing Time), Shanghai YiMin No.1 Foods (Group) Co., Ltd. (hereinafter, “YiMin Group”), a subsidiary of Bright Food Group, entered into an agreement with the Fontana family in Milan to acquire majority stake in Italian Salov Group. Headquartered in Tuscany, Italy, Salov Group owns two famous brands named Sagra and Filippo Berio. Specialized in producing and selling olive oil, Salov Group has a current revenue of Euro 330 million. Its products are sold to more than 60 countries around the world and maintain a leading position in the United States and the UK.

Sticking to the mission of selecting, producing and selling high-quality edible oil, YiMin Group is committed to preserving and carrying forward the time-honored history and culture of Salov products as well as their Italian home-grown features. YiMin Group will enlarge its scale by seizing the opportunities in the fast-growing Chinese market, integrating its existing international network and maintaining Salov’s local advantages in the Italian market.

As the parent company of YiMin Group, Bright Food Group regards the tie-up with Salov as part of its move to go global. Bright Food Group will help Salov scale up its production and sales. While bringing a healthy Mediterranean dietary lifestyle to Chinese consumers, Bright Food Group will continue to provide premium oil products as well, and in the meantime secure good income prospects for Salov’s shareholders and employees.