Bright Foods ready for market expansion of Chinese products into Australia
Major state-owned company of China, Bright Foods Company, is reportedly opening a permanent office in Sydney, signaling an intention to expand its Australian operations.
The reports come after the Chinese food group’s acquisition of a 75% stake in Australian food manufacturer Manassen Foods has been approved by the Australian Foreign Institute Review Board.
Bright Foods is one of China’s largest dairy producers and a major manufacturer and distributor of consumer food products. The company has previously expressed its intention to provide Australian products and brands with direct access to the Chinese market, which is one of the fastest growing markets for packaged foods in the world.
Conversely, it is likely that Bright Foods will be able to market Chinese-grown or Chinese-manufactured products (such as dried fruit) under the branding of its Australian brands, which include Sunbeam.
Manassen Foods’ is likely to be utilised by Bright Food to introduce China-sourced products and brands into the Australian market.
Bright Foods Company has also sought to acquire others in Australia’s sugar, dairy, health supplements and agricultural industries.