Bright Food may acquire Israel鈥檚 Tnuva
Print Edition
Bright Food (Group) Co’s possible acquisition of Israel’s biggest food producer and distributor Tnuva may help the Chinese food and beverage maker’s globalization strategy and raise its brand image, according to a market watcher.
The company yesterday confirmed it’s in talks to acquire Tnuva without revealing details. But Israeli newspaper Haaretz said on its website on Monday that the deal could be worth 6.1 billion shekels (US$1.7 billion).
“Leveraging mature foreign technology and experience to enhance Bright Food’s product quality may be one of the key reasons for Bright Food to acquire Tnuva,” said Mark Zhu, senior strategy consultant at Labbrand, a China-based brand consultancy, which also provides market research for consumer goods companies.
Tnuva could also lay a strong foundation for Bright Food’s globalization strategy for their own products in the future, he added.
The Chinese company is talking with Apax Partners, a UK private equity fund that owns 56 percent of Tnuva, Haaretz reported, without saying where it got the information.
Zhu said the acquisition, if successful, could help Bright Food become more “innovative” and has a brand image of “more international standard of quality.”
It will provide a sense of security for Chinese consumers who have high food-safety concerns, he added.
Tnuva is a billion dollar food conglomerate and its products are sold in the Middle East, Europe and the US, according to its official website. Its products include frozen pastries and various kinds of cheese.
Last year, Bright Dairy, a listed subsidiary of Bright Food, bought a 60 percent stake in Britain’s cereal maker Weetabix for 1.2 billion pounds (US$1.9 billion).
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