Core Viewpoint - The acquisition of Xu Fu Ji by Nestlé marks a significant strategic move, as it aims to transform Xu Fu Ji into a "national classic snack brand" amidst declining candy consumption trends in China [2][18]. Group 1: Acquisition Details - On March 3, Nestlé announced the acquisition of the remaining 40% stake in Xu Fu Ji, achieving full ownership after previously acquiring 60% for $1.7 billion in 2011 [2][5]. - Xu Fu Ji has been a dominant player in the Chinese candy market, achieving sales of over 1 billion yuan in 1997 and maintaining a leading position in the market since [5][7]. Group 2: Market Context - The candy market in China has been experiencing a decline, with traditional candy sales dropping by an average of 11.6% annually from 2019 to 2023 [13]. - The overall candy market growth has stagnated, with a compound annual growth rate of only 2% from 2016 to 2020, and a decline in production from 352,000 tons in 2016 to 288,000 tons in 2018 [15]. Group 3: Brand Transformation - Nestlé aims to leverage Xu Fu Ji's extensive distribution network to penetrate the growing snack market, which contrasts with the declining candy sector [18][19]. - Xu Fu Ji has already begun diversifying its product offerings beyond traditional candies, including snacks like nuts and cakes, to adapt to changing consumer preferences [21]. Group 4: Consumer Behavior - The perception of Xu Fu Ji as a "candy king" persists, with Nielsen data indicating a market share of over 30% in bulk candy sales [10]. - However, the cultural significance of candy during festivals like the Spring Festival is diminishing, leading to a decline in its consumption as a gift item [12][14].

以下文章来源于投中网 ，作者陶辉东 投中网 . 投中网是领先的创新经济信息服务平台，拥有立体化传播矩阵，为创新经济人群提供深入、独到的智识 和洞见，在私募股权投资行业和创新商业领域拥有权威影响力。官网：www.chinaventure.com.cn 本文转载自投中网 值班编辑｜ 江江 视觉 | 顾芗 一笔收购，让"糖果大王"徐福记再次进入公众视野。 3月3日，雀巢宣布，已与徐福记的创始人徐氏家族达成协议，收购徐福记剩余40%的股份。在2011年， 雀巢曾以17亿美元收购了徐福记60%的股权。因此，此次收购后，雀巢将实现对徐福记的全资控股。 徐福记是一个令人既熟悉又陌生的名字。不管喜欢与否，大部分中国人应该都吃过徐福记的糖。即便没 吃过，至少也听过。它跟喜之郎果冻、营养快线、旺旺雪饼一样，都是某个遥远的"年味"记忆的一部 分。 现在看来，雀巢对徐福记还另有重用。徐福记，还不愿意被时代抛弃。 谁人不识徐福记 徐福记的创始人是来自中国台湾的徐镨、徐乘、徐沆与徐梗四兄弟。在上世纪90年代初，他们跟随当时 台企到大陆投资建厂的风潮，在东莞建了一座糖果厂，一开始做贴牌加工，两年后正式创立徐福记品 牌。只用了几年时间，徐福 ...