Nestle Buys 60% Stake In Chinese Food Co.

Law360, New York (April 18, 2011, 11:51 AM EDT) -- Nestle SA said Monday that it had struck a deal to buy a 60 percent stake in Chinese food company Yinlu Foods Group, a move that strengthens the Swiss food behemoth's presence in the Asian nation.

The transaction amps up an existing relationship between the companies under which Yinlu, which garnered sales of 750 million Swiss francs ($835 million) in 2010, works as the co-manufacturer for Nestle's ready-to-drink Nescafe coffee product in China, the Swiss company said.

Nestle did not disclose the transaction price or other...
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