Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Drinks | Retail | Videos
Processed Foods
Savory Snacks
Return to: FBR Home | Processed Foods | Savory Snacks

Great China International invests in agricultural joint-venture SAAT

FBR Staff Writer Published 27 May 2016

Great China International, a developer and real estate manager in China, is investing in Sino-Australian Agricultural Technology (SAAT), www.ynnut.com, an agricultural developer in China and a vertically integrated nut and health food company with core capabilities across macadamia planting, grafting, management, processing, sales and marketing.

Great China International has invested RMB ?37.5 million, or approximately USD $5.8 million, for an 11.12% interest in SAAT.

Located in Jiangcheng county in the Yunnan Province, SAAT was founded in 2014 and has the world's largest contiguous macadamia nut monomer base, with the ability to cultivate over 2,470 acres of land. In 2015, SAAT's nurseries produced and sold over 600,000 grafted macadamia seedlings. From 2014 to 2015, SAAT grew sales by over 75%, from 4.6 million RMB in 2014 to 8.0 million RMB, or from $733,000 USD to $1.2 million USD.

"The investment into SAAT represents yet another important achievement for the Company as we continue to strengthen our presence within the healthy and functional foods marketplace through strategic joint ventures and acquisitions," said Frank Jiang, CEO, Great China International, Inc. "This acquisition opens the door for new and exciting partnerships both within China and internationally for unique brands and products with macadamia nuts. We believe it is a great foundation from which to bring long-term value to our shareholders. We are looking forward to building our position in SAAT over the next few years."

Source: Company Press Release