格隆汇11月18日丨美丽田园医疗健康(02373.HK)公布，于2025年11月18日，买方奈瑞儿医疗器械及奈瑞 儿健康管理(各为公司的一家非全资附属公司)与卖方广州蓓旻晟企业管理有限公司订立股权转让协议， 据此(其中包括)，卖方有条件同意出售，而买方有条件同意收购目标业务(包含东莞和珠海医疗标的 100%股权、珠海标的及东莞标的100%股权)，总代价为人民币4000万元(相当于约4400万港元)。 于收购事项完成后，公司将拥有目标公司(东莞和珠海医疗标的、珠海标的及东莞标的)90%的股权，该 等公司将成为公司非全资附属公司。本次收购事项将带动集团直营门店新增19家，其中包括两家医疗美 容门店及17家生活美容门店，直营门店总规模进一步拓展，大湾区核心城市辐射密度将进一步加深，同 步带动集团收入的显着提升。 美丽田园在中国美丽与健康服务行业经营超30年。集团坚持通过内生增长及战略性收购拓展业务规模， 拥有丰富的行业收购整合经验。收购事项标志着集团旗下智能美养品牌奈瑞儿正式将珠海和东莞两个城 市纳入直营区域，带动集团直营门店新增19家，其中包括两家医疗美容门店及17家生活美容门店。作为 大湾区国内生产总值(GDP ...

Group 1 - The company has entered into a share transfer agreement to acquire 52% of the equity in Xishuangbanna Menghai Longputian Tea Industry Co., Ltd. for a nominal price of RMB 1 through its wholly-owned subsidiary Fulton Asia Investment Limited [1] - The target company, established in 2018 in Xishuangbanna, Yunnan Province, China, engages in the wholesale and retail of tea, pre-packaged food, and bulk food, as well as tea planting, procurement, initial processing, refinement, and sales [1] - Following the acquisition, the target company will become a non-wholly-owned subsidiary, and its financial performance will be consolidated into the company's financial statements [1] Group 2 - The acquisition is aligned with the company's strategic initiatives to develop its tea business sales and marketing [2] - The target company has approximately seven years of experience in tea production and sales, which includes beverage production, food production, and internet food sales [1][2] - The acquisition is expected to enable the company to control the tea production process, ensure stable raw material supply and product quality, and leverage the target company's channels and market resources to expand its sales network [2]

Core Insights - Giovanni Ferrero has transformed Ferrero into a global giant through significant acquisitions, particularly in the U.S. market, since taking over in 2015 [2][3] - The recent acquisition of WK Kellogg for $3.1 billion marks one of the largest transactions in the food industry over the past year and highlights Ferrero's strategic expansion beyond its core chocolate products [3][7] - Over the past decade, Ferrero has completed at least 21 acquisitions across nine countries, totaling over $13 billion, including notable brands like Fannie May and Ferrara Candy Company [3][8] Company Performance - Ferrero's revenue has nearly doubled from 2015 to the fiscal year ending August 2024, reaching $20.4 billion, with EBITDA increasing from $1.6 billion to $3 billion [7][8] - The acquisition of WK Kellogg is expected to contribute to a sales growth of over 10%, with WK Kellogg projected to generate $2.7 billion in revenue in 2024 [8][9] Strategic Expansion - The acquisition strategy initiated by Giovanni Ferrero has diversified the company's portfolio beyond chocolate, integrating local U.S. brands with Ferrero's global offerings [7][9] - The company aims for a 7.33% annual growth rate to double its size within ten years, a target that appears achievable given the 84% revenue growth from 2017 to 2024 [12][13] Market Position - The acquisition of WK Kellogg positions Ferrero to enhance its presence in the North American cereal market, which has an annual retail value of $12 billion [12][15] - Following the acquisition, Ferrero's revenue is expected to surpass that of Mars' snack business, which is projected to reach $21.3 billion in 2024 [12][15] Challenges and Opportunities - The company faces potential challenges from U.S. tariff policies and rising raw material costs, particularly cocoa, which has reached historical highs [15][16] - Ferrero is actively working to diversify its supply chain for key ingredients, including hazelnuts, which are crucial for its flagship products [16]