YICHANG, CHINA – Angel Yeast Co., Ltd. has established a joint venture to invest $15.4 million to acquire Shandong Bio Sunkeen Co., Ltd., Shandong Province, China. Angel Yeast partnered with Shandong Lufa Holding Co. to establish Angel Yeast (Jining) Co., Ltd., which will acquire relevant assets of Bio Sunkeen’s yeast product production. Angel Yeast, Yichang, has contributed $9.2 million. Shandong Lufa has contributed $6.2 million.
“Angel Yeast will utilize Bio Sunkeen’s existing facilities, with further expansion plans in the future,” said Chen Hongwei, general manager of Angel Yeast (Jining). “This joint venture project is in line with Angel Yeast’s 2025 strategy focusing on yeast biotechnology, nutrition and health products, and food ingredients.”
Bio Sunkeen has an annual capacity of 15,000 tons of yeast and yeast extracts. The company’s other products include edible sweet potato starch, feeding products, compound seasoning and other yeast-augmented products. The acquisition will allow Angel Yeast to increase its production capacity by 15,000 tons for yeast and yeast extracts.