Angel Yeast Co., Ltd and Shandong Lufa Holding Company acquired Shandong Bio Sunkeen Co, Ltd for CNY 100 million.
August 11, 2021
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Angel Yeast Co., Ltd (SHSE:600298) and Shandong Lufa Holding Company acquired Shandong Bio Sunkeen Co, Ltd for CNY 100 million on August 12, 2021. Angel Yeast has partnered with Shandong Lufa Holding company to establish Angel Yeast (Jining) Co., Ltd. Angel Yeast (Jining) will acquire the relevant assets of Bio Sunkeen's yeast product production, while simultaneously transforming and upgrading its technological capabilities. Angel Yeast has contributed CNY 60 million to the acquisition costs and Shandong Lufa has contributed CNY 40 million. Angel Yeast will utilize Bio Sunkeen's existing facilities, with further expansion plans in the future. Angel Yeast will acquire Bio Sunkeen's yeast and yeast extract-related assets group in order to implement technological transformation and upgrade its processes and facilities.
Angel Yeast Co., Ltd (SHSE:600298) and Shandong Lufa Holding Company acquired Shandong Bio Sunkeen Co, Ltd on August 12, 2021.
ANGEL YEAST CO., LTD is a China-based company, principally engaged in the manufacture and distribution of yeast and other products. The Company operates its businesses primarily through yeast and deep processed yeast product business, dairy product business, packing business and sugar refinery business. The Company mainly provides baker's yeast, brewing/distilling yeast, yeast extracts, healthy products, biological feeding additives and food materials, among others, which are applied in baking, alcohol, seasoning, medical, human health and animal nutrition industries. It offers its products under the brand name of Angel. The Company distributes its products within domestic market and to overseas markets.
ANGEL YEAST CO., LTD 
