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