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雀巢13年后再出手,拟全资控股糖果龙头徐福记 创始人家族逐渐退居幕后
Core Insights - Nestlé is acquiring the remaining 40% stake in Xu Fu Ji, achieving full ownership after previously acquiring 60% in 2011 for $1.7 billion, indicating a strategic move in the evolving Chinese candy market [1][4] Company Overview - Xu Fu Ji, founded in 1992, has transformed from a leading candy brand to a diversified product line including pastries, chocolates, and jellies, with over 3,500 distributors and 130,000 retail outlets [2][3] - The company has 39 modern production facilities and 127 high-quality automated production lines, showcasing its operational scale [2] Market Position - Xu Fu Ji holds the top market share in bulk candy, chocolate, and pastries, with over 30% market share in bulk candy and chocolate, and second place in bulk jelly [3] - The company has experienced an average annual growth rate of 8% in production value over the past three years, with double-digit growth expected in 2024 [3][4] Financial Performance - In 2024, Nestlé's sales in Greater China reached approximately 50 billion Swiss francs, with a 2.1% organic growth rate, significantly driven by the candy business [4][5] - The candy segment accounted for 16.1% of total sales in Greater China and 9.2% globally, indicating substantial growth potential [5] Strategic Direction - Nestlé aims to enhance its candy business by focusing on high-growth categories and integrating its products and technologies with Xu Fu Ji, leveraging global R&D capabilities [6][7] - The acquisition aligns with Nestlé's strategy to invest in growth-driving factors and expand market share, particularly in the snack and candy sectors [6][7]