Jiashili Food Group
Chinese cuisine may not be known for its desserts, yet an increasing number of Chinese seem to have developed a sweet tooth. With growing disposable incomes and greater focus on quality and food safety, China’s biscuit sector is booming.
With a brand history dating back to 1956, Jiashili Food Group (Jiashili) is one of China’s leading biscuit brands, producing plain and sandwich biscuits, crackers and wafers. Jiashili is a rarity in the China food sector. It has built its reputation on ‘quality and value’, catering to the needs and aspirations of middle-class consumers with a preference for established, branded packaged food. Jiashili is now the second largest biscuit manufacturer in China by sales volume.
Convinced by China’s growing appetite for branded packaged snacks, Actis decided to buy a 20% stake in Jiashili. The firm is investing alongside the company’s owner and chairman, Huang Xianming, a seasoned businessman who has quadrupled Jiashili’s revenues since 2007.
Actis has a strong track record of investing in the Chinese consumer sector.Since 2001, the firm has invested more than US$600m in consumer companies in China. With Jiashili’s strong management team, Actis hopes to build on the company’s reputation for plain biscuits and crackers and by investing further behind the brand and higher-margin, fast-growing alternatives such as wafers and sandwich biscuits.