French multinational cheese supplier, Bel Group has recently announced a majority 70% stake acquisition of Shandong Junjun Cheese.
With the controlling stake, Bel has solidified its international expansion strategy as it now has access to state-of-the-art manufacturing and innovation capabilities in China. Through this acquisition, Bel will be able to accelerate its growth ambition in the fast-growing Chinese market.
Shandong Junjun Cheese is based in north-eastern China and is a co-manufacturer with strong financial, industrial and R&D capabilities. Established in 2017, its product portfolio comprises of a large range of cheese. The company achieved remarkable 100% annual growth in sales since 2018.
Shandong Junjun Cheese Founder Zhao Lu said, “Partnering with Bel immediately appealed to us as a win-win approach, with a culture close to ours and strong synergies. With over 150 years of experience in Cheese, Bel will enable the further development of Shandong Junjun Cheese by strengthening R&D and production capabilities. Meanwhile, our company will help accelerate the deployment of Bel branded products in China through its state-of-the-art R&D and production facilities, supported by a strong team of experts and entrepreneurs.”
Bel already sells its Kiri, The Laughing Cow and Mini BabyBel cheeses in China. It also markets Pom’ Potes yogurt and ambient fruit pouches in the country.
China seems to be one of the few best performing markets for Bel with positive growth trajectory and which it attributes to the 2.3% rise in organic sales in 2021.
