Some of Australia’s best known food and beverage brands may be owned by Chinese company Bright Foods.
China’s second largest food company, Bright Foods has turned its attention to Manassen Food, after reports last week that the company was looking to expand its presence in Australia and Europe.
Manassen is part-owned by rich-lister Roy Manadden whose wealth was valued at $224 million in 2009.
Reuters reports that Bright Foods has bought CHAMP Private Equity’s 75 per cent stake in Manassen, but managing director Cameron Buchanan declined to comment on what he called “media speculation.”
The majority stake in the company is expected to cost $500 million, including debt.
Manassen has been around since 1953 and as Australia’s leading independent grocery importer, has brands including Carrs and Ryvita biscuits, Jelly Belly, Margaret River Dairy, Castello Cheese, and freezer and bakery products and employs 350 workers.
Bright Foods unsuccessfully bid for CSR’s sugar division earlier this year.
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