A global player in the yeast and fermentation industry Lesaffre has acquired a majority stock from Chinese firm Biohymn Biotechnology. Lesaffre's move was said to be a part of its initiative in expanding its services in China.
According to the chief executive officer of Lesaffre Antoine Baule, the company welcomes a new operation that would strengthen its position in China. It acquired a major stock in Chinese firm Biohymn Biotechnology.
Lesaffre has been conducting business in China for several years, and the move manifests its desire to work in the country long-term. Baule claimed that the significant investment would establish a closer relationship between the company and its Chinese customers by offering them products and services that fulfil specific requirements. He further noted that the company's goal is to address the increasing market demand for its products and services, especially yeast for mantou. However, they also highlighted that animal nutrition and biotechnologies have shown promising growth in the Chinese market.
Baule further added that the partnership would create great synergy through a collaboration of the companies' expertise. The said joint effort was perceived to contribute to the development of the main sugar-producing region in North China.
According to the president of Lesaffre's China region Jean-Philippe Poulin, the company would also leverage the localization of Biohymn in further developing the North China industry. These would include efforts that improve the bakery, animal health, nutrition, and biotech markets.
The chairman of Biohymn Biotechnology Su Yanliang also claimed that the deal was a great opportunity for the company. Biohymn has been engaged in the year and yeast extract industry for over 160 years and continues to enjoy a worldwide reputation with its spirit of craftsmanship. Su also added that its high-quality products and services have allowed the company to maintain a strong position in the market.
Furthermore, Su added that the company has an essential advantage when it comes to resources in North China. Hence, Su claimed that the partnership would mutually benefit both companies in becoming two of the strongest players in the market. He also revealed that both companies have common prospects in the future. They follow the same corporate responsibility measures on environmental protection and practicing greener initiatives.
Su then noted that on top of the agreement, both companies also aspire to become greater contributors to poverty reduction in inner Mongolia. They also aim to strengthen local economic development in Northern China.
Lesaffre designs manufacture and sell innovative solutions in baking, food taste and pleasure, healthcare, and biotechnology. Lesaffre also operates three production sites in China and four Baking Centers in the mainland. The baking centres offer support, training, and advice to their customers. On the other hand, Biohymn Biotechnology is a high-tech company engaged in yeast and yeast production and management.
