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A China Resources Beer unit will acquire a 55.19 percent stake in Guizhou Jinsha Jiaojiu Winery Industry for (approx. $1.7 billion).
Guizhou Jinsha Winery produces and distributes baijiu products under the brands Zhaiyao and Jinsha Huisha in China. Baijiu is a white liquor made from wholegrain with alcohol content ranging from 40 to 60 percent.
The acquisition of Guizhou Jinsha Winery is part of China Resources Wine’s efforts to diversify its product mix and expand its revenue streams. The deal is expected to significantly enhance the group’s profitability and valuation.
According to Hou Xiaohai, executive director and CEO of China Resources Beer, their acquisition of Guizhou Jinsha Winery is a key initiative of their strategic plans for the baijiu market and represents our steady progress in the development of non-beer alcoholic beverages.
He added that they will integrate their existing baijiu business resources and further strengthen the group’s competitiveness and brand value within the Chinese baijiu industry through a ‘dual empowerment’ model to develop both beer and non-beer businesses at the same time.
