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HONG KONG, Apr 7, 2016 - (ACN Newswire) - Legend Holdings Corporation ("Legend Holdings"; stock code: 3396.HK) today announced to sign the strategic cooperation agreement with Kailis Family, which is best known for Australian seafood business. According to the agreement, Legend Holdings and Kailis Family formed a newly-capitalized joint venture called KB Food Group which is 90 per cent owned by Legend Holdings and 10 per cent owned by the Kailis Family. Kailis Family injected KB Seafoods Company, which includes Kailis Bros Company along with National Fisheries Company, and its operation in New Zealand and Asia, into the new venture.
Meanwhile, Legend Holdings announced that the seafood industry will be regarded as another core pillar in the agriculture and food segment. Based on the cooperation, Legend Holdings will make continuous investment in building Legend Holdings seafood industrial cluster to achieve the goal of being one of the seafood industry leaders in Asia-Pacific region and the world at large.
Kailis Bros Company, the subsidiary of KB Seafoods Company, is the leader in Australian Seafood industry, providing Australian mainstream supermarkets and catering enterprises with more than 6,500 kinds of seafood and affiliate products. In the meantime, it exports lobsters and many other high-end products to East Asia market, including major brands like KB's, By George, Clipper K, etc.
Chen Shaopeng, senior vice president of Legend Holdings will become the chairman of KB Food Group. Matthew Kailis, former CEO of KB Seafoods Company will act as CEO of KB Food Group. The management team from the injected businesses of Kailis Family will play the same role in KB Food Group. The Company will commit itself to offering the existing clients high-quality products and services with the same business model, based on which to promote expansion and development of KB Food Group in Australia and in the whole world.
In recent years, due to the sustainable development of global seafood industry, the demand from developed countries are increasing. At the same time, with the trend of economy growth, rise of resident income, stronger health consciousness and the consumption upgrading, seafood as the more healthy choice among mid- to high-end animal protein is becoming increasingly popular and has a lot of space for development.
KB Seafoods Company has been engaged in seafood industry for many years, accumulating vast management experience and product innovation ability. As a large integrated investment group, Legend Holdings owns profound foundation in Chinese market, broad international view and global resources integration capability. The joint venture between the two companies is a strong alliance and the complementary of each other's advantages, which will lead the KB Food Group to rapid growth and strong drive for future expansion.
Matthew Kailis, the CEO of KB Food Group stated, "We have long-held ambitions to grow our Australian and international businesses. We are pleased that we are able to be the strategic partner with Legend Holdings, who owns an outstanding reputation and strong comprehensive strength. In addition to that, it has established a number of influential enterprises with leading positions in multiple industries. Meanwhile, Legend Holdings treasures its brand and has deep understanding of industry and the excellent integration capability of global resources, which will greatly improve KB Food Group's current service level for existing clients and offer strong support for further development in Australia, Asia Pacific and around the globe."
Chen Shaopeng, senior vice president of Legend Holdings said, "The strategic cooperation with KB Seafoods Company played an important role in overseas investments for the agriculture and food segment. Under Matthew Kailis's leadership, the management team has generated excellent operating capacity. The business model of "global resources + Australian consumption" gradually matures, which has laid a solid foundation for the further development of KB Food Group. Both of us shares the same industry vision, And I am deeply convinced that today will be an important milestone for KB Food Group to be the global seafood leader."
Legend Holdings is one of the largest investment holding company in China. With the development of over three decades, it has established the "Two-Wheel-Drive" business mode of "Investment + Industry". Through active and systematic layout, Legend Holdings has developed two major businesses: strategic investment and financial investment. In strategic investment sector, Legend Holdings focuses on the industries with enormous potential and has continuously developed a number of excellent enterprises to realize the sustainable growth of corporate value for the long run.
In the segment of agriculture and food, Legend Holdings has always been devoted to global high-quality resources integration and providing high quality and safety products and services to customers. At present, related businesses and strategic alliances have been developed and formed among "Joyvio Golden Wing Mau Group" in fruit section, "Funglian Holdings", "Liquor Easy", "Joyvio Wine Company" and "Longguan Tea Company" in beverage section, "Cloud Farm" in internet agriculture section and the joint venture company established in grain section with Heilongjiang Beidahuang Group. The strategic investment in the Australian company KB Seafoods Company has manifested an all-rounded march to the global seafood industry to build another core pillar in the agriculture and food segment.
Topic: Press release summary
Source: Legend Holdings
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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