date:Feb 27, 2013
China-based frozen food manufacturer Sanquan Foods has entered into an agreement to acquire Long Fong, a packaged frozen food business in China which is owned by American food company HJ Heinz, for an undisclosed amount.
The deal was signed with Heinz's subsidiaries - Country Ford Development and Heinz (China) Investment.
The acquisition, which will be funded through internal cash, is expected to be completed by June this year.
Sanquan Foods stated that the acquisition will boost its competit