Sunner Development plans to purchase Sunner Food for 2.02 billion yuan to extent business chain and strengthen synergist

By CnAgri2017-05-09 11:29:46 Print

Sunner Development announced on April, 13 evening that it planned to purchase 100% shares of Sunner Food from eight counterparties in a way of issuing shares with a tentative price of 2.02 billion yuan.

Sunner Development focuses on R&D, production and distribution of meat products with chicken as major product, its products mainly are divided into fried food, steamed and baked food, barbecued food, salted and prepared food, sausage, boiled food, sauced food and others, and now it has five production bases with designed annual capacity of 160,000 tons. Sunner Food mainly carries on deep processing by purchasing and cutting frozen chicken with products sold to importers like Japanese Food, Japanese Trade, Crestrade, large scale catering chain-like enterprises such as KFC, Pizza hut, Mcdonald's, Dicos, IKEA FOOD, Papa John's, Yonghe Da Wang and Burger King, supermarkets including Wal-Mart, Carrefour, Yonghui Superstores, China Resources Vanguard and Century Mart, wholesale market of agricultural products and food processing factories.

Financial data show that Sunner Food realized operating revenue of 1.182 billion yuan and 1.485 billion yuan in 2015 and 2016, of which, net profits respectively were 58.5451 million yuan and 107 million yuan.

After the accomplishment of this trade, Sunner Development will extend its business chain to meat deep processing industry from breeding, slaughtering and processing in upstream and expand its product series to deep-processed products from primary processed products, which is conductive to improving additional value and products, enriching product types and widening the range of customers and distribution channel, and then form integration pattern including feed production, GP breeding birds raising and food processing to strengthen synergistic effect.