Heinz 32.56 million yuan to buy out joint venture equity

Heinz has already signed an equity transfer agreement with a Chinese partner. The "sole proprietorization" price is 32.56 million yuan, which means that as the earliest Chinese company entering the Chinese market, the Chinese partners Heinz and Yantang have completely ended their joint venture in Guangzhou. .

Yesterday, the reporter learned from the Southern United Assets and Equity Exchange Center that the transferor of the 12.343% stake in Heinz United Co., Ltd. Guangdong Yantang Investment Co., Ltd. and the transferee Heinz (China) Investment Co., Ltd. signed the property rights transaction on December 24 last year. "Contract", the transaction price of 19.3 million yuan, and another 8.482% of the equity from Heinz from the Joint Food Enterprise Center in Guangdong Province, the price of 13.26 million yuan.

According to the announcement, according to the “Reply on the Equity Transfer of Joint Venture Heinz United Co., Ltd.” (Guangdong Foreign Economic and Trade Zizi [2011] No. 55), the “Equity Transfer Contract (Equity Class)” has been approved by the Department of Foreign Trade and Economic Cooperation of Guangdong Province. Heinz completed the "sole investment" in China. When it was listed last year, the bottom price of more than 20% of the shares in the hands of the Chinese side was about 22 million yuan.

The joint venture only expired in 2014. In 1984, Heinz founded the first baby food supplement joint venture Heinz United Co., Ltd. in Guangzhou, and then in 2002 it bought the state-owned Guangzhou delicious source and established Heinz (China). Products Co., Ltd. recently acquired "Weishida," a well-known soy sauce company headquartered in Guangzhou.

In December last year, Heinz President and Global CEO Sun Bolian confirmed to this newspaper that Heinz will become the 100% owner of Heinz Associates. The Chinese joint venture company’s joint venture originally expired in 2014 and both parties unanimously sought a satisfactory solution through negotiation. Program.

"Products and business will not be turbulent" "Products and businesses will not cause turmoil after the sole proprietorship." Sun Bolian said. According to another source, the newspaper stated that Heinz was included in the list of “retreat into two, three,” and that the Chinese had invested mainly in land as capital, the other had technology and brand, and Heinz had a controlling interest. "After Heinz has moved away, unless the Chinese side invests again, there will be no more capital in the joint venture, because the foreign party will no longer use the land."

Last year, Heinz's global revenue exceeded 10 billion U.S. dollars, while China accounted for only about 3%, and 12 factories in China account for 1/3 of Heinz's global workforce.