Chinese snack food SOE makes Australian acquisition

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    clpstaff &clp articles

    China state-owned enterprise (SOE) Bright Food Group (Bright Food) has acquired a 75% stake in privately-owned Australia-based confectionery Manassen Foods.…

    China state-owned enterprise (SOE) Bright Food Group (Bright Food) has acquired a 75% stake in privately-owned Australia-based confectionery Manassen Foods. Bright Food acquired the stake from Champ private equity for a total consideration of over US$516 million. The acquirer required offshore financing, and received a facility of US$315 million.

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