Nestle expands in China

The Swiss Nestle SA bought 60 percent stake of the the Yinlu Foods Group Chinese food company, in order to emerge market expansion of its instant food business.

The family-owned Yinlu is a well-established food brand in the Chinese market. The purchase of the ownership have developed the previously cooperation between the two companies to a higher degree, since Yinlu produces the instant coffee products of Nescafe in China. Nestlé did not published the financial details of the purchase – reports MTI.