WILMAR and Kellogg in JV to disrtibute cereal and snacks in China

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

this is very big business for 1.3 billion people in china

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Wilmar could be worth > $4.

www.zhujiage.com.cn/siliao/201301/239845.html

JP MORGAN RAISED WILMAR TARGET PRICE TO $4.20