The company will buy all the assets of Zhenghang Food Company Ltd. ("Navigable Foods"), a manufacturer of cookies and crackers in the north and northeastern regions of China.
Terms
of the transaction were not disclosed. Navigable Foods' 2007 net sales were approximately $50 million.
Founded in 1993, Navigable Foods is one of the major biscuit manufacturers in China,
providing consumers with a large variety of cookie and cracker products under the ZhengHang brand.
--Nina M. Lentini