此次三只松鼠与爱零食的合作告吹后，谁来承接三只松鼠发力 线下的任务？三只松鼠在终止收购公告中称，该公司将继续围 绕既定战略，寻求更多的发展机会。 作者：郑明珠 封图：东方IC 洽谈八个月，三只松鼠（300783.SZ）三项收购大计中金额最大的一笔终告失败。 6月16日，三只松鼠发布公告称，该公司决定终止对湖南爱零食科技有限公司（下称"爱零食"）的 收购事项。收购终止原因系"双方就部分核心条款未达成一致"。 三只松鼠未进一步透露未达成的核心条款具体细节。爱零食创始人唐光亮6月17日对经济观察报表 示，"近期不好讨论"。 爱零食是一家在全国拥有2000多家门店的量贩零食连锁品牌。与爱零食的合作也是三只松鼠打好 线下"硬仗"的关键。 最大一笔收购告吹 三只松鼠对于爱零食的收购，要从其2024年发起的三起收购说起。 2024年10月28日，三只松鼠宣布其全资子公司安徽一件事创业投资有限公司拟收购量贩零售店爱 零食、折扣超市爱折扣、乳饮企业致养食品的控制权或相关业务及资产，拟分别斥资不超过2亿 元、0.6亿元和1亿元。三起收购金额合计不超过3.6亿元，其中对于爱零食的收购是金额最大的一 笔。 对于收购原因，三只松鼠在投 ...

Core Viewpoint - The acquisition of Hunan Ailing Snack Technology Co., Ltd. by Three Squirrels has been terminated after eight months of negotiations due to disagreements on core terms, marking a setback in the company's offline expansion strategy [1][4]. Group 1: Acquisition Details - Three Squirrels planned three acquisitions in 2024, with the largest being the proposed acquisition of Ailing Snack for up to 200 million yuan, part of a total investment of no more than 360 million yuan across all three deals [2][5]. - The acquisition aimed to leverage Ailing Snack's extensive network of over 2,000 stores to strengthen Three Squirrels' offline presence and tap into new market segments [2][5]. - Ailing Snack has been actively expanding, having acquired several snack brands and increasing its store count from approximately 1,800 to over 2,000 in 2023 [3][5]. Group 2: Strategic Implications - The failure of the acquisition is seen as a significant obstacle to Three Squirrels' goal of balancing its revenue structure from 70% online to 50% offline over the next 2-3 years [4][5]. - The company has been facing declining revenues since 2019, with a notable recovery in 2024, achieving a revenue of 10.622 billion yuan, a 49.3% increase year-on-year [5][6]. - Three Squirrels is now seeking alternative opportunities to pursue its offline strategy, although it has not disclosed plans for new acquisition targets [6][7]. Group 3: New Strategic Direction - Three Squirrels has shifted its strategic focus from solely snacks to a broader "all-category, all-channel" approach, aiming to provide high-quality products across various categories [7][8]. - The company has recently entered the beverage market and plans to open all-category lifestyle stores and convenience shops, indicating a significant shift in its business model [7][8]. - The founder has positioned 2025 as a "year of rebirth" for the company, suggesting a transformative phase ahead [9].

这是新消费智库第 2 6 4 0 期文章 新消费导读 1. 唯怡推出夏季限定新品 2. 奈雪的茶上新超能牛油果奶昔 3. 星巴克上新两款五月天联名新品 4. 柠季旗下咖啡品牌 RUU COFFEE 开放加盟 5. 宾堡宣布管乐为宾堡多菲角品牌代言人 6. 迪卡侬拟售中国业务 30% 的股权 7. 万豪集团收购荷兰酒店品牌 c i t i zenM 8. 东方树叶推出陈皮白茶新品 9. 甜啦啦推出青梅爽爽桶 10. 奥利奥首推巧克力椒盐脆饼口味 11. 白象上新春晚同款干脆面 12. 参半进军洗护赛道 13. Off&Rel a x 官宣品牌大使蒋欣 . . . . . . 一周新品 1. 唯怡推出夏季限定新品 近日，唯怡品牌推出夏季限定新品薄荷爽乳酸菌饮料，主打清爽解腻的饮用体验。该产品以薄荷风味搭配乳酸菌发酵，口感清凉酸甜，适合佐 餐饮用，具有解辣解腻的效果。 （食业头条） 2. 奈雪的茶上新超能牛油果奶昔 图片来源：腾讯公共图库 奈雪的茶上新超能牛油果酸奶昔。新品采用牛油果、香水椰融入酸奶，搭配奇亚籽、燕麦爆珠制作而成，口感醇香浓郁，口感丰富。 （ 食 安 时代 ） 3. 利郎与设计师品牌 PRONOUN ...

Group 1 - Thailand's dairy product exports are projected to grow by 11.5% year-on-year in 2024, reaching a total export value of $582 million, leading ASEAN countries in this sector [1] - Major export markets for Thai dairy products include Malaysia, Vietnam, Indonesia, Singapore, the Philippines, and Myanmar, with Malaysia showing a significant import increase of 64.3% [1] - The Thai Ministry of Commerce attributes this growth to the ASEAN Free Trade Agreement, which provides a competitive advantage for Thai dairy products in the region [1] Group 2 - The Thai Dairy Promotion Organization is implementing a 2023-2027 action plan aimed at modernizing and increasing the efficiency of dairy farms, thereby enhancing production efficiency and farmer income [2] - The plan includes promoting more farms to meet "smart farm" standards, improving farm management efficiency, and increasing raw milk production at the farm level [2] - Thai dairy companies are increasingly exploring low-fat, zero-fat, plant-based, and lactose-free dairy products to meet diverse consumer preferences [2] Group 3 - Thai dairy products are expanding exports to markets such as China, Australia, New Zealand, and Chile, benefiting from various bilateral and multilateral free trade agreements [3] - Thailand plans to further explore emerging markets in Africa and Latin America to enhance its position in global dairy trade [3]

代工争议 2024 年起，消费者爆料，娃哈哈纯净水外包装标注的生产商为今麦郎隆尧、河源等分公司，价格却高 于今麦郎自有品牌。尽管客服强调 "代工产品符合娃哈哈标准"，但同规格产品价格高出 30% 的现实， 仍引发消费者对 "品牌溢价掩盖成本压缩" 的质疑。 更严重的是，2025 年 3 月广东消费者投诉 【下载黑猫投诉客户端】乳酸菌饮料出现黑色沉淀物，儿童 饮用后身体不适，而涉事产品委托方为宗馥莉控股的广州恒枫饮料公司，暴露出代工链条中的品控漏 洞。 面对舆论压力，娃哈哈于 5 月 15 日发布声明，承认与今麦郎存在代工关系，并表示自 2025 年 4 月起已 终止合作。但声明未解释为何在自有工厂产能利用率不足的情况下选择代工，也未回应消费者对 "同水 不同质" 的核心质疑。值得注意的是，今麦郎为承接娃哈哈订单投资 1.5 亿元扩建河源工厂，若品牌方 策略调整，代工厂将面临产能过剩风险，这种代工模式的脆弱性已在行业内引发连锁反应。 内部动荡 与代工争议同步发酵的，是娃哈哈内部持续升级的矛盾。2025 年 2 月 16 日，陕西娃哈哈乳品车间突然 停产，员工被迫停工。 类似事件在杭州娃哈哈精密机械有限公司重演。 ...