Bright Food eyes overseas acquisitions

SHANGHAI-based food and dairy company, Bright Food Group Co, said it is determined to expand abroad through acquisitions, and hopes to get more support from the Chinese government and domestic private equity firms.

Bright Food will continue to buy overseas assets in its core businesses including wine, sugar and dairy, despite frustrations in some deals, vice president Zhuang Guowei said.

"We're both determined and prudent. Acquisition targets must fit into our strategies, create synergies with us and the price should be reasonable," Mr Zhuang said. "We hope that Chinese private equity or venture capital funds can give us financial backing. We also hope that the government can give us more support in terms of financial assistance, insurance, and policies."

Bright Food, whose interests span farming, food and beverage production and retailing, successfully purchased New Zealand's Synlait Milk Ltd and Yunnan Yinmore Group Co.