Italian company Inalca, through its subsidiary Inalca Food & Beverage (IF&B), has acquired 57.3% of Bright View Trading, Hong Kong.
The Hong Kong-based company is a major player in the distribution of Italian specialty food products in the former British colony.
With a 2016 turnover of €9 million, it has over 500 customers among the major restaurants and hotels in Hong Kong and Macau.
The founding partner will hold on to a 32.9% stake. The remaining 9.8% will stay with the third partner Michele Bernacchia, who will become the general manager.
With a reported 27 million foreign visitors to Hong Kong in 2016, many of these from Western Europe, the demand for Italian specialty food products is in steady and strong growth as Italian food grows in popularity.
The company’s business plan foresees revenue doubling over the next five years.
Hong Kong’s acquisition is the latest in a series that IF&B has completed over the last 24 months in Australia, Cape Verde, Thailand, USA, Malaysia, Mexico and the Canary Islands.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
