The companies hope to achieve synergies through expanding Manassen's domestic and export business. Bright - now China's second-largest food company - aims to have as much as 30% of total sales from overseas markets in five years. Foreign assets It has been looking for foreign assets in dairy, wine, sugar, food distribution and manufacturing industries, its chairman, Wang Zongnan, told Bloomberg. Bright lost out to General Mills in its attempt to buy French yoghurt maker Yoplait earlier this year (see DM, No 1103,09.06.11, p7). The latest deal is pending regulatory approvals and Bright Food executives will visit Australia in late August for an official signing ceremony, according to the statement.
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