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Chinese Aseptic Packaging Giant NEWJF Acquired a 28.22 Percent Stake In Greatview Aseptic Packaging

China 18.01.2024
Source: The DairyNews
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China, a global powerhouse in dairy consumption, is reshaping the milk industrial chain by focusing on aseptic packaging.
Chinese Aseptic Packaging Giant NEWJF Acquired a 28.22 Percent Stake In Greatview Aseptic Packaging
In a groundbreaking move, Shandong NewJF Technology Packaging Co., Ltd (NEWJF), a leading Chinese aseptic packaging enterprise, acquired a 28.22 percent stake in Greatview Aseptic Packaging in January 2023, completing the acquisition in October. This strategic move has significantly elevated NEWJF's standing in the liquid product packaging market.

The acquisition, aimed at breaking foreign monopoly and fostering domestic substitution, is seen as a key step in enhancing China's food security. NEWJF emphasizes that the collaboration not only accelerates domestic substitution but also ensures the long-term, stable development of downstream enterprises.

Expressing enthusiasm about the venture, NEWJF emphasizes its commitment to exploring the aseptic packaging sector to provide enhanced services to clients and the industry. As the largest shareholder, NEWJF asserts its right to appoint directors, believing that diversifying Greatview's board will expedite sustainable development.

Established in 2007 and listed on the Growth Enterprise Market of the Shenzhen Stock Exchange in September 2022, NEWJF has witnessed consistent revenue growth from 2020 to 2022. Industry analysts predict that the acquisition will open avenues for NEWJF to further explore international markets.

Since becoming a qualified provider of aseptic packaging material for Yili in 2009, NEWJF has strengthened its ties, with Yili holding a 20 percent stake in the company since August 2015. Although Yili's current stake has decreased to less than 5 percent, it remains NEWJF's largest client, contributing to 70 percent of the packaging company's revenue.

Greatview Aseptic Packaging, responsible for around 40 percent of Mengniu's products, is a core supplier for New Hope Dairy and its subsidiaries. The acquisition has not only addressed overcapacity issues with Mengniu but has also improved production efficiency through the adoption of a universal management system. The collaboration between these industry leaders marks a shift towards a healthy industry development trajectory, steering away from price wars.
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