Fenmei Packaging acquires Qingdao Likang Food Packaging Technology Co., Ltd.

Fenmei Packaging acquires Qingdao Likang Food Packaging Technology Co., Ltd.

Fenmei Packaging Co., Ltd. ("Fenmei Packaging") happily announced that it would acquire all the issued shares of Qingdao Likang Food Packaging Technology Co., Ltd. ("Likang") for a cash consideration of RMB 104.2 million. Headquartered in Shandong Province, China, Likang is mainly engaged in the production of sterile packaging for customers across the country. After the completion of the delivery, Lecco will become a wholly-owned subsidiary of Fenmei Packaging.

This acquisition is in line with Fenmei Packaging’s strategy of finding opportunities to develop the Chinese and international sterile packaging markets. By acquiring Leccon, Fenmei Packaging has consolidated its position as China's second largest sterile packaging company. And the transaction enriches the customer composition of Fenmei Packaging and synergizes with current production capacity.

Regarding this transaction, Mr. Bi Hua, CEO of Fenmei Packaging, said: "Today we are pleased to announce the transaction. Leekang is a well-managed enterprise that provides high-quality sterile packaging solutions to a variety of customers. Our customers will benefit from the scale and efficiency improvement brought by the merged business. I personally look forward to the Leekang team joining the Fenmei Packaging family."

Fenmei Packaging is a supplier of comprehensive solutions for the liquid food sterile packaging industry. Our products and services include: sterile packaging materials, filling machines, spare parts and technical services. We are the second largest coil packaging supplier in the industry, and our sterile packaging materials are suitable for industry-standard coil and sheet sterile packaging filling machines. Our high-quality, competitive products help global dairy and beverage companies establish strategic relationships with multiple suppliers, thereby enhancing competitiveness and creating value in the supply chain. Just like our business philosophy: "choose creates value." Fenmei Packaging Co., Ltd. is a limited liability company established in the Cayman Islands. Listed on the Hong Kong Stock Exchange.

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