Bright buys into Spanish food distribution firm

Move expected to spearhead further push into Europe

Bright Food (Group) Co Ltd, the Shanghai-based food giant, has completed the acquisition of Miquel Alimentacio Grup, Spain's second-largest food distributor, in a move to expand its European distribution network.

The 110-million-euro ($123.15 million) takeover was made jointly by Shanghai Tangjiu Group Co Ltd, a fully owned Bright Food subsidiary which took a 72 percent stake in Miquel, JIC Investment Co Ltd and Shenzhen Donghuatong Trade Development Co Ltd.