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Alliance of HORTIFRUT and JOY WING MAU for the production and distribution of berries in China
China
Tuesday 28 March 2017
FJ | Hortifrut Chile S.A.
The Chilean company HORTIFRUT has reached an agreement with the Chinese company JOY WING MAU, the leading producer and distributor of fruit in China, for a joint venture that will produce and distribute berries on the Chinese market.
The joint venture is named JVCo, 51% of which is held by HORTIFRUT and 49% by JOY WING MAU. Its initial capital is USD 15 million. The agreement includes the provision of HORTIFRUT assistance and the authorization to distribute HORTIFRUT products in Mainland China.
The first berry plantations should start early next year.
source : pulso cl, lta reuters com
