Kellogg of the United States and Singapore's Wilmar International said on Monday they set up a 50:50 joint venture in China to produce and sell cereal and snacks, Dow Jones Newswires reported.
Wilmar will contribute its infrastructure, supply chain and distribution network in China to the Shanghai-based venture, while Kellogg will bring a portfolio of globally recognized brands and products, Wilmar said in a statement, without giving any financial details of the joint venture.
Wilmar's China subsidiary, Yihai Kerry Investments, will participate in the joint venture, the Singapore-listed commodities supplier said in the statement
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