Uni-president May Acquire Shanghai Huiyuan For CNY300 Million

Taiwan's Uni-president Group recently announced plans to acquire Shanghai Huiyuan, a wholly-owned subsidiary of Huiyuan Juice, for CNY300 million.

According to the Taiwanese company, they will only purchase Huiyuan's plant in Shanghai and establish it as Uni-president's manufacturing base. Shanghai Huiyuan reportedly focuses on the production of vegetable juice and diluted fruit juice.

Huiyuan Juice published a report in response to this acquisition plan, and the company states that they have noticed the related reports about the acquisition. The company is negotiating the deal and no agreement has been achieved yet. They will release further reports if any transaction is decided.

Taiwanese local media quoted Uni-president by saying that the company plans to invest USD204 million to establish and enhance nine comprehensive food plants. The new plants will be located in areas in or around Hutubi, Tianjin, Qinghai, Shanghai, and Guangdong; while its existing plants in Hangzhou, Nanchang, Shijiazhuang, and Harbin will gain additional investments. Before the end of 2013, the company will have eight or nine new plants and by 2014 they aim at 40 manufacturing bases.

Uni-president also expanded in the dairy industry by increasing investment. In 2012, the company completed a CNY51.66 million additional investment in Wonder Sun, a Heilongjiang-headquartered dairy company.