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Angel Yeast announces acquisition of Bio Sunkeen's yeast relevant assets

21 September 20212 min reading

Angel Yeast, a listed high-tech yeast company in China, announced it has established a joint venture company to invest $15.4 million to acquire yeast relevant assets of Bio Sunkeen. In doing so, the company seeks to optimize its production capacity and further consolidate and strengthen its position in the industry.

Angel Yeast has partnered with Shandong Lufa to establish Angel Yeast (Jining) Co., Ltd. Angel Yeast (Jining) will acquire the relevant assets of Bio Sunkeen's yeast product production, while simultaneously transforming and upgrading its technological capabilities. "Angel Yeast will utilize Bio Sunkeen's existing facilities, with further expansion plans in the future. This joint venture project is in line with Angel Yeast's 2025 strategy focusing on yeast biotechnology, nutrition and health products, and food ingredients," said Chen Hongwei, General Manager of Angel Yeast (Jining). As a national high-tech enterprise, Bio Sunkeen currently has an annual capacity of 15,000 tons of yeast and yeast extract (YE) through its production facilities. Angel Yeast will acquire Bio Sunkeen's yeast and yeast extract-related assets group in order to implement technological transformation and upgrade its processes and facilities. Eventually, the company hopes to build it into an important production base for its yeast products and related raw materials for food, organic feed, and organic fertilizer. Angel Yeast's acquisition of Bio Sunkeen will help the company rapidly address potential capacity gaps as the market continues to grow.

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