BAYN EUROPE IS SETTING UP A SUBSIDIARY IN CHINA FOR SUGAR REDUCTION
Bayn Europe AB has signed a joint venture agreement with real estate development company HuaHe International Asset Management Ltd. to introduce sugar reduction to the China market.
Both partners agreed on a cooperation model and mutual commitments for the set up of joint venture. Bayn will hold 65% of equity and HuaHe will hold 35%. Further to rolling up a sugar reduced concept store under Bayn Europe’s trademark takk!, Bayn China have ongoing discussions regarding a sugar reduced industry park with Chinese government stakeholders.
“Sugar reduction means a system change and the food chain is broken when the added sugar is replaced. This is also true for the Chinese market, despite having 110 million diabetics and a very large child obesity problem due to unhealthy lifestyles with excess sugar consumption”, says Lucy Dahlgren, CEO of Bayn Europe. “We are glad to now have a strategic agreement with a partner, outside the food system, who pursues the real need for sugar reduction. The first showcase of takk! concept store is planned to open before this summer, and it will be launched as a franchising concept in this fall. We have dialogues with several investment partners and plan to set up 200 takk! stores by 2022.”
“We are glad to have Bayn who has brought us a totally new concept to our property customers. Particularly to government stakeholders who want to develop their cities in a sustainable manner”, says Dr. Henry Yang, General Manager of HuaHe. “We, as lifestyle architects in real estate and the property industry, believe that the opportunities arising out of the synergies between our two companies are very promising.”
Huahe International (Beijing) Assets Management Consulting Co., Ltd (hereinafter referred to as Huahe International) is a holding subsidiary of Hede Holdings, which is in charge of assets management and equity investment businesses. Huahe International is supported by Hede Holdings in the fields of business and health care of service capability and resources integration in whole product chain. Huahe International, cooperated with three subsidiaries (Haskoll Design, Hede Consultancy and Hede Construction), provides whole product chain service of all-round strategic positioning, planning consultancy, industry introduction, integrated design, project and construction management, assets management and operation, equity investment, etc for Chinese commerce and health care fields.
About Bayn Europe
Bayn Europe is an independent formulation developer of cutting edge and healthy sugar reduction solutions for the food and beverage industry. Bayn’s total solutions focus on taste, texture and cost-in-use. Bayn’s product portfolio contains ingredients and sugar replacers for food and beverage applications. Bayn’s business model is based on solid networks of scientific research, market channel partnerships and contracted manufacturers. Bayn Europe was founded in 2009 in Stockholm, Sweden, and is listed at Nasdaq Stockholm, First North, since 2014.