Lihoo's to acquire China operations from Bakkavor Group for £50m.

Lihoo's, a food technology company, agreed to acquire China operations from Bakkavor Group, a food manufacturing company specialising in fresh prepared foods, for £50m ($67m). "Over the last 20 years, we have built a great business in China and I would like to thank all our China colleagues for their contribution to the significant progress we have made in recent years. With strong foundations in place, we are confident that going forward the business and its stakeholders will benefit from Lihoo's local expertise and experience as a frozen and fresh meal manufacturer," Mike Edwards, Bakkavor CEO.