CHINA: Andre Juice teams up with Agrana
By just-drinks.com editorial team | 15 June 2006
Yantai North Andre Juice Co. has sold half of its stake in a Chinese plant.
The apple juice maker said yesterday (14 June) that it has sold 50% of its holding in subsidiary Xianyang Andre Juice Co. to Agrana Beteiligungs from Austria for EUR6.8m (US$8.58m).
The two companies will also cooperate in sales and distribution in Europe and the US, with Agrana distributing Andre's products in Europe and Andre becoming Agrana's sales agent in the US.
The new joint venture factory, located in China's largest apple growing area in Shaanxi province, has an annual capacity of 30,000 tons of apple juice concentrate.