Chinese sauce maker Salion seeks up to $400m in sale

Photo by Clem Onojeghuo from Pexels

Beijing Salion Foods Co., a Chinese manufacturer of condiments and seasonings, is seeking a buyer in a deal that could fetch about $300 million to $400 million, people with knowledge of the matter said.

The owner of the closely-held sauce maker is working with an adviser on the potential sale, said the people, who asked not to be identified as the information is private. First-round bids for the business are due as soon as this month, the people said.

Deliberations for the sale are ongoing, and the owner could decide to keep the business, said the people. A representative for Salion declined to comment.

Founded in 2000, Salion develops and manufactures condiments and seasonings from natural extracts. The Beijing-based firm currently makes more than a hundred different products, including blueberry powder, chicken essence and barbecue sauce, and sells in more than 30 countries such as Japan, South Korea, Singapore and Russia, according to its website.

Any deal would add to the $9.2 billion of announced food-related acquisitions involving Chinese companies over the last 12 months, data compiled by Bloomberg show. PepsiCo Inc., announced last February that it had agreed to buy Chinese snack maker Hangzhou Haomusi Food Co., also known as Be & Cheery, for $705 million. The deal was completed in June.

Bloomberg

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.