Juewei Food is providing nearly $100m for the Sichuan Chengdu Xinjin Siyiwu Investment vehicle while fellow snack food brand Qiaqia Food is supplying $9m.
China-based roasted seed and nut provider Qiaqia Food and domestic snack food producer Juewei Food have formed a RMB1.1bn ($170m) industry investment fund, DealStreetAsia has reported, citing a regulatory filing.
Sichuan Chengdu Xinjin Siyiwu Investment will be equipped with almost $100m from Juewei Food’s Wangju Capital vehicle, which will take a 58.6% share, while Qiaqia Food is set to provide $9m in return for a 5.45% stake.
The vehicle will invest in companies operating in areas like restaurant chains, snack and condiment brands, pet food producers and developers of technology which can enhance the supply chain.
Linzhi Yongchuang Information Technology and Zhejiang Jiyuan Network Technology have also agreed to commit capital to the fund, according to DealStreetAsia.
Photo courtesy of Juewei Food.
