Freedom Foods Group completes China investment

Company News

by Rachael Jones

Freedom Foods Group (ASX: FNP) has completed its investment into Shenzhen JiaLiLe Food Co. to be operated as Australia’s Own Dairy Company China.

The Company has subscribed for an initial 10 per cent investment in AO China for a consideration of approximately $4.5 million.

Freedom Foods retains an option to subscribe for up to 30 per cent of AO China within 3 years from the date of the initial subscription.

The new structure is the first major overseas investment for Freedom Foods into an existing company, providing a stronger strategic link between the existing local managed brand operations in China and brand production in Australia.

Shares in Freedom Foods Group (ASX: FNP) up 2.33 per cent to $5.72
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.