Chinese condiment manufacturer, Foshan Haitian Flavouring and Food Company has acquired Amoy Food from private-equity group Trustar Capital.
Trustar confirmed that it has sold its entire stake in Amoy Food to Haitian, which holds dual listings in Shanghai and Hong Kong. Trustar acquired Amoy in 2019 from Ajinomoto.
Founded in 1908, Amoy manufactures soy sauce, oyster sauce, seasoning sauces and frozen dim sum. It distributes to more than 40 countries which include the US, UK, Australia, Canada and Japan.
With the acquisition, Haitian and Amoy Food will integrate their distribution channels, production networks and supply chains to capture new opportunities while ensuring sustainable development.
Both companies have complimentary product portfolio within the spices/condiment segment, as such this will ensure a smoother integration of their operations.
In the first 6 months of 2026, Haitian posted sales revenue of Rmb 16.15 billion (US$2.41 billion), a 6% growth from the same period last year.
According to Frost & Sullivan, the Chinese condiments market is projected to grow at a CAGR of 6.2% from Rmb 511.3 billion (US$76.2 billion) in 2025 to Rmb 689.7 billion (US$102.77 billion) in 2030.
