Editor’s Note
Muyuan Foods, a leading Chinese hog producer, is set to launch its Hong Kong IPO, targeting up to $1.5 billion. This move highlights ongoing activity in Asian capital markets despite broader sector challenges.
Muyuan Foods Plans Hong Kong IPO
Image Credit: Brand Official
On January 28, mainland China’s hog farming giant Muyuan Foods plans to launch its Hong Kong IPO as early as January 29, aiming to raise up to $1.5 billion (approximately HK$11.7 billion), with an expected listing date of February 6. According to public information, Muyuan Foods passed the Hong Kong Stock Exchange’s listing hearing on January 16, with Morgan Stanley, CITIC Securities, and Goldman Sachs acting as joint sponsors.
Market sources indicate that Charoen Pokphand Group, Fidelity International, and UBS Asset Management intend to participate as cornerstone investors in this IPO. The relevant parties have not commented. (Viewpoint Network)
Unilever Sells Home Care Business in Parts of South America
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Unilever recently announced it has signed an agreement to sell its home care business in Colombia and Ecuador to Alicorp.
According to public information, the transaction covers businesses with established local brand portfolios in Colombia and Ecuador, including brands such as Fab, 3D, Aromatel, and Deja. Specific financial terms of the agreement were not disclosed. (Sina Finance)
General Mills Sells Tomato Brand Muir Glen to Private Equity Firm
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Recently, General Mills announced the sale of its Muir Glen organic tomato brand to Violet Foods. The latter is a manufacturer of pizza sauce, pasta sauce, and other tomato products, affiliated with Amphora Equity Partners. Transaction terms were not disclosed. This deal helps General Mills further focus on core brands like Cheerios and Progresso. (FOOD DIVE)
Through this integration, Violet Foods can strengthen its presence in the ketchup and canned tomato market, while the combined resources will better serve the related market in the US, valued at over $5 billion.
UK Vitamin Company Vitabiotics Reportedly Attracts Bids from Blackstone and Others
Recently, Bloomberg cited “people familiar with the matter” stating that private equity firms including Bain Capital and Blackstone Group will participate in the bidding for UK vitamin company Vitabiotics; EQT AB and TPG Inc. have also joined the bidding process. The “people familiar” also indicated that if a deal is reached, the company’s valuation could be around £900 million (approximately RMB 8.6 billion). The company owns several vitamin brands including Wellman, Wellwoman, Pregnacare, and Wellbaby. (Sina Finance)
ReFa Parent Company MTG Announces Dissolution of Shanghai Wholly-Owned Subsidiary
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Recently, beauty device brand ReFa’s parent company, Japanese firm MTG Co., Ltd., announced it will dissolve its wholly-owned subsidiary in Shanghai, Aitemuji (Shanghai) Commerce and Trade Co., Ltd. This subsidiary, established in 2013, has long been responsible for ReFa’s sales and operations in the Chinese market.
MTG currently has two subsidiaries in mainland China: MTG Shanghai and MTG Shenzhen (Aitemuji Shenzhen Commerce and Trade Co., Ltd.). The dissolution involves MTG Shanghai, responsible for sales operations, while MTG Shenzhen is not affected by this adjustment. (WWD)
On Appoints New Chief Financial Officer
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Recently, Swiss sports brand On announced the appointment of Frank Sluis as its new Chief Financial Officer. Frank Sluis will officially assume the role in May, succeeding Martin Hoffmann, who previously served as both Co-CEO and CFO. Frank Sluis was previously the CFO for the European and Indonesian operations of food retailer Ahold Delhaize.
CEO Martin Hoffmann expects that for the 2025 fiscal year, On’s net sales will increase by at least 34% year-on-year, maintaining strong growth momentum. (WWD)
Bvlgari Appoints Fragrance Business Director
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Italian high-end jewelry brand BVLGARI announced that Domenico Giampà will assume the role of Fragrance Business Director, while also serving as Director for Italy and Southern Europe.
Domenico Giampà joined Bvlgari Profumi Italia in 1995 as Chief Financial Officer and became Fragrance Sales Director in 2004. From 2008 to 2010, while overseeing the fragrance business, he also served as Wholesale Sales Director for Bvlgari’s jewelry and watch business. (Brand Official)
L’OCCITANE Group Appoints Travel Retail General Manager for EMEA and Americas
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Recently, French skincare group L’OCCITANE appointed Mark Edington as Travel Retail General Manager for EMEA (Europe, Middle East, Africa) and the Americas, effective immediately.
Mark Edington’s most recent position was Global Brand General Manager at Australian skincare brand Aesop. He joined Aesop in 2019, previously serving as Global Business Development Director and Global Wholesale Business Head. Earlier, he was General Manager for the Middle East, Africa, Russia, and Global Travel Retail at Burberry. (Luxe.CO)
