Bel Group announces the closure of the acquisition of 70 percent of Shandong Junjun Cheese’s share capital. This controlling stake enables Bel to open a new phase in its international expansion strategy and strengthens the Group’s growth ambitions with state-of-the-art manufacturing and innovation capabilities in China.
In a market where Bel aims to take a leadership position in the next few years, Bel announced the acquisition of 70 percent of Shandong Junjun Cheese. Through this deal, Bel will gain the means to achieve and accelerate its leadership ambitions in the fast-growing Chinese market, which expects double-digit annual growth in the next four years.
Shandong Junjun Cheese is based in North-Eastern China – the fourth-largest milk-producing area nationwide – and primarily operates as a co-manufacturer with strong financial, industrial, and R&D capabilities. Founded in 2017, its portfolio of products is comprised of an extensive range of cheese which has achieved over a 100 percent annual growth since 2018. Bel’s acquisition also includes the required authorizations and licenses to operate Shandong Junjun Cheese’s factory.
Bel Group CEO Cécile Béliot said: “With the acquisition of a majority stake in Shandong Junjun Cheese, we are pursuing our growth strategy by expanding our product portfolio and strengthening our manufacturing footprint. Our will to accelerate in new territories is at the heart of our growth strategy, as well as our re-balancing around the dairy, fruit, and plant-based segments of healthy snacking. We have chosen Shandong Junjun Cheese, a company with huge industrial capabilities and innovation potential. This will enable us to increase our scale in the Chinese market and compete for leadership. We warmly welcome the more than 300 Shandong Junjun Cheese employees to the Bel Group and look forward to successfully developing our position together.”
Shandong Junjun Cheese founder, Mr. Zhao Lu complemented: “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.”