Ireland Immigration focuses on Doing Business in Ireland: Yesterday, reports indicated that Bright Food's next overseas acquisition target area will be Ireland, and it was stated that its high-level delegation is heading to Dublin, with the prospect of initiating acquisition transactions or establishing joint ventures locally. In response, Bright denied this to Beijing Business Today.
The report indicated that, as planned, Bright Food's delegation will visit Dublin, London, Brussels, and Barcelona, striving to double its market share in the international market before 2017. This means that Bright Food will initiate multiple acquisition transactions in overseas markets. The reason for heading to Ireland is that dairy matters remain a top priority.
China is currently intensifying efforts to improve the quality of the dairy industry, especially following a series of recent scandals involving infant formula. Large dairy farms in Ireland have attracted considerable attention from Chinese dairy companies. Among them, Glanbia, with its dairy and milk operations valued at 3.3 billion euros, has become a potential primary acquisition target, while the Kerry Group's dairy business, valued at 9 billion euros, has also become a focal point for various enterprises.
However, regarding the aforementioned trip to Ireland for acquisition negotiations, Bright Food Group spokesperson Pan Jianjun stated in an interview with Beijing Business Today that there is no such acquisition transaction.
Industry insiders believe that even though it denied the acquisition in Ireland, Bright's pace of overseas acquisitions has indeed been tight in recent years. Just recently, it introduced strategic investment from Singapore's RRJ, and Bright Food Group's Vice President Ge Junjie has also stated that Bright Food is attempting to revitalize its international presence and increase the proportion of its overseas assets to 25% of total assets, as currently, the proportion of international market assets in Bright Food's total assets is only 12%.