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Bright Food gets 2nd Aussie firm

By He Wei in Shanghai ( China Daily ) Updated: 2014-01-14 07:15:45

Bright Food Group Co Ltd, China's second-largest food producer, acquired a midsized Australian dairy company following the purchase of Manassen Foods in the same country.

Manassen, in which Bright Food has a 75 percent stake, has signed a deal to buy Mundella Foods, a four-decade-old company in Western Australia, according to Bright Food spokesman Pan Jianjun.

The deal will make Mundella a wholly owned subsidiary of Manassen, a supplier and distributor of local and international foods, Pan told China Daily on Monday.

Financial details were not disclosed.

Records filed with the Australian Securities and Investments Commission showed that significant management changes occurred at Mundella last month, including the appointment of directors from Manassen to the smaller dairy company.

Pan confirmed that Manassen's senior employees will take managerial roles in Mundella and oversee its operations.

Bright Food paid $516 million in 2011 for its majority stake in Manassen, which has a strong presence in West Australia through its ownership of Margaret River Dairy Co and gourmet olive group Don Vica.

Mundella, which is also based in West Australia, was founded in 1972, when the Hector family used surplus milk to make dairy products and supply local shops. The company does not publish financial reports.

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