The Bel Group, maker of Laughing Cow cheese, has bought a 70% stake in a Chinese cheese company.
Shandong Junjun Cheese, based in northeast China, mostly functions as a contract manufacturer for a wide range of cheeses. It was founded in 2017 and has had more than 100% annual growth since 2018. The transaction, whose terms were not disclosed, includes Bel Group having authorization to run the Shandong Junjun factory. It will be used in part to process Bel products, which have been sold in China for about 15 years.
“With over 150 years of experience in Cheese, Bel will enable the further development of Shandong Junjun Cheese by strengthening R&D and production capabilities,” Shandong Junjun founder Zhao Lu said in a statement. “Meanwhile, our company will help accelerate the deployment of Bel branded products in China through its state-of-the-art R&D and production facilities, supported by a strong team of experts and entrepreneurs.”
