Bright Food finally seals overseas acquisition
China's Bright Food Group is set to acquire a 75% stake in CHAMP Private Equity-controlled Manassen Foods, finally making a breakthrough in its long-held but often thwarted ambitions to take a significant step into overseas markets. The parties did not disclose the size of the deal, though reports estimated the Australian company’s worth at more than A$500 million ($525 million). If the transaction is approved by regulators, Bright Food would own brands including Jelly Belly Jelly Beans, Carr’s Water Crackers and Margaret River Dairy.
Upon Bright Food's purchase, a group comprising company founder Roy Manassen and senior management is expected to retain a 15% stake, while CHAMP will hold the remaining 10%. The private equity firm, which...
More on Australasia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.