CITIC completed the acquisition of Amoy Foods.

CITIC, a state-owned investment company, completed the acquisition of Amoy Foods, a Hong Kong-based manufacturer of frozen foods and sauces. Financial terms were not disclosed. “We are excited about the opportunity to invest in Amoy and work closely with Ajinomoto Co., who is the global leader of high-quality seasoning and foods and pioneer of “Umami” with 110 years history and wide-ranging portfolios. Leveraging the strong shareholders and century-long brand equity, we see solid growth potential for high-quality Asian sauces and frozen foods across global Asian population. We look forward to leveraging CITIC Capital’s unique resources to grow the business alongside with the management team,” Yichen Zhang, CITIC Capita lChairman & CEO.