Leading global law firm Herbert Smith Freehills has advised Hong Kong-listed Huabao International on its US$695 million acquisition of prominent Chinese condiment company Jiahao Foodstuff Limited.
Long-standing client Huabao International invests in the research, development and production of flavours and fragrances.
Jiahao Foodstuff Limited is a well-known brand and supplier of condiments to more than 200,000 restaurants across China. Huabao hopes to use Jiahao's existing market position and the expected growth in consumer demand for condiments to grow its FMCG business.
"We have advised Huabao International on a number of significant transactions over the past decade," said Beijing partner Tom Chau. "This combination of its innovative food technology with a proven food supplier and distributor will increase its influence and reach across the rapidly growing Chinese foodstuffs and restaurant market."
Tom was assisted by senior associate Sherry Lai.