April 18/Vevey, Switzerland/Wall Street Journal -- Swiss food giant Nestlé has acquired a 60% stake in Chinese food maker Yinlu Foods Group, expanding its instant food offering in a key growth market as part of a strategy to compensate for more sluggish sales in developed countries.
Family-owned Yinlu is a well established brand in China and a major distributor of ready-to-drink peanut milk and instant canned rice porridge. The deal extends cooperation between the two companies, as Yinlu is a coproducer of Nestlé's Nescafe coffee in China.