Bright Food buying 56% of Israeli company

Tnuva acquisition to beef up Chinese conglomerate's foreign asset portfolio

Bright Food (Group) Co Ltd, China's second-largest food vendor, announced on Wednesday it is acquiring a majority stake in an Israeli counterpart, demonstrating its commitment to overseas expansion.

The purchase from London-based private equity fund Apax Partners, will give Bright Food a 56 percent stake in Tnuva, Israel's largest food company, Bright Food spokesman Pan Jianjun told China Daily.