date:Jun 06, 2012
Munchy noted that the transaction was its first manufacturing asset purchase made in China, as a part of its strategy to establish its presence in the Asia's major market.
Earlier this year, Munchy signed a purchase agreement to buy Kellogg's 100% stake in Zhenghang Food.
The acquisition includes Zhenghang Food's manufacturing plant in Shandong province as well as its sales and distribution network, reported Bernama.com.
Munchy chief executive officer CK Tan said the company has been seeking to