This is the 139th weekly by foodplus
Statement: This article is the original article of foodplus and cannot be reproduced without authorization
Weekly weekly news focuses on the analysis and revision of information to the richness of information. We will collect and review the most noteworthy information of the food consumer goods industry in the past week.
Editor of weekly weekly: Ethan
Big event & wind vane
Golden dragon fish, a giant in grain and oil industry, is listed with a market value of over 260 billion yuan
Information source: 36 krypton, prospectus, golden dragon fish official website
image source: Internet
On October 15, golden dragon fish, a leading grain and oil brand in China, was listed on the gem with the securities code of “300999” and the issue price was 25.7 yuan per share. After opening, the market value of Jinlongyu exceeded 260 billion yuan, ranking in the top five of GEM market value. In addition, the company plans to raise 13.87 billion yuan, which is the largest enterprise in the history of gem.
Jinlong fish, full name of Yihai Jiali Jinlong fish grain and oil Food Co., Ltd., is the core of Yihai Jiali group. YIHAI KERRY is a group of business in Chinese mainland, which is invested by Singapore Fengyi international group. In 2019, the revenue of golden dragon fish is 170.743 billion yuan, and the net profit is 5.564 billion yuan. The main business includes kitchen food, feed raw materials and oil technology. The sales revenue of kitchen products in recent three years accounts for about 60% of the total revenue.
Golden dragon fish brand matrix, image source: Golden Dragon Fish prospectus
According to the survey data of Nielsen, a well-known multinational market research organization, in 2019, the sales shares of Yihai Jiali Jinlong fish in China’s small package edible vegetable oil, packaged rice modern channel market and packaged flour modern channel market are 38.4%, 18.4% and 26.7% respectively.
A 60205 golden dragon fish product category, photo source: Golden Dragon Fish official website
Since its establishment and development for 46 years, the layout of upstream, midstream and downstream industrial chain has been improved, and a high moat has been formed in terms of production and marketing closed loop and business scalability. The current business development status is as follows:
upstream, midstream and downstream industrial chain of golden dragon fish, photo source: Goldfish prospectus
1. Products: Golden Dragon Fish consists of 10 sub categories, including oil, rice, flour, dried noodles, seasoning, milk, soybean milk, catering, food industry, daily chemicals, etc;
2. Brands: there are 16 brands including high-end, middle end and Volkswagen under golden dragon fish;
3. Sales: it has 31 marketing branches, 24 direct sales departments, more than 2600 distributors and more than 1.3 million end customers in more than 2800 cities and counties;
4. Main customers of kitchen food: 1) Wal Mart, RT mart, China Resources, Carrefour and other large supermarkets; 2) zhenzhenzhenxian, rural base, zhenkungfu and other large chain catering enterprises; 3) fresh food e-commerce platforms such as Meicai and kuaiju; 4) large bakery chain enterprises such as holly; 5) yum, McDonald’s, Master Kang, Yizi, Taoli bread, Wangwang Nestle and other large food industry enterprises;
5. Main customers of feed raw materials and oil technology: 1) feed production enterprises such as Wen’s, new hope, twins, Zhengda and Zhengbang; 2) large daily chemical, fast-moving consumer and large-scale traders such as P & G, Solvay, Liby, naeus, blue moon, etc.
Golden dragon fish ranks first in the domestic edible oil market share, with annual revenue of more than 170 billion yuan. Why is such a large-scale mature enterprise not listed on the main board but on the gem?
First, the profitability of golden dragon fish is poor. According to the data of the prospectus, the gross profit rate of the tuna is about 10%, and the net interest rate is 3%;
Secondly, the current interest bearing debt of the golden dragon fish is as high as 85.83 billion yuan, and the short-term loan is 82.17 billion yuan, so the fund-raising pressure is very urgent;
Third, the main purpose of the listing of the dragon fish in China is to get rid of the restriction of foreign capital by withdrawing from foreign capital and becoming a genuine domestic enterprise;
Fourth, the growth of the dragon fish has encountered a bottleneck. On the one hand, with the popularity of healthy and scientific diet, relying on the development of oil business makes the golden dragon fish usher in the industry ceiling; on the other hand, under the double hard constraints of grain and oil market saturation and macro price control, if the golden dragon fish wants to get rid of the low profit situation, it is necessary to rely on innovative consumption upgrading, and the other is to extend categories to promote brand upgrading, especially the high profit or scarce type related complementary products Condiments, such as compound condiments;
Fifth, compared with the main board, gem is more friendly to innovation and development, with low listing threshold, high listing efficiency and large financing opportunities.
As a result, in the rush to raise funds and pull out of the golden dragon fish, it is natural to choose the gem with loose conditions. In a sense, the listing may be the prelude to the consumption upgrading and brand upgrading of the golden dragon fish.
Nestle adds new nutrition trends in China: the first oral special medical food & customized nutrition products have landed in the Chinese market
Source: Snack generation, Nestle China
image source: Snack generation
According to the news released by the snack agency on October 14 and 15, Nestle has successively released special medical food and customized nutritional products, which means that Nestle’s domestic nutrition business is gradually implemented.
Nestle’s brand “Jiashan” released the first oral nutrition special medical food in China and officially landed in the Chinese market. This product is one of jialichang’s product series, with 250ml package specification. It is suitable for nutrition of patients during perioperative period, without mixing and drinking directly. In October last year, Jiashan launched a tube feeding product for ICU patients in China, which is mainly used for patients with severe malnutrition and malnutrition after major surgery. Gu Xinxin, President of Nestle Health Science Greater China region, said in an interview that the formula of jialichang 500ml and 250ml is not much different. 500ml is mainly used in ICU, mainly tube feeding; 250ml is easy to carry, disposable and mainly oral.
jialichang 250ml oral special medicine food product map, photo source: snacks
Nestle has invested 1 billion yuan in Taizhou, Jiangsu Province to establish a production plant and R & D center. The R & D center is in parallel with three R & D centers in New York and Switzerland, which can share the world’s advanced production technology and formula. It is reported that nestle health science’s formula foods for special medical purposes on the market in China include Jiashan series, enminshu, diminsu, aiershu and shunningbao, aiming at perioperative patients, tumor patients, pediatrics, stroke and rehabilitation.
In addition, the customized nutrition brand “persona” acquired by Nestle last year officially opened overseas flagship stores in Jingdong and tmall to enter the Chinese market. This is another new health product brand introduced by Nestle after the introduction of garden of life, a dietary supplement brand, to enter the Chinese market through cross-border e-commerce. Alex Lindsay, vice president of international business development of persona, said that the brand had been settled in tmall and Jingdong in September, and would sell essential vitamin packs for the Chinese market exclusively on these two platforms.
“persona” product picture, photo source: Snack generation
Persona was founded in 2016, and its brand focuses on customized health assessment and “nutrition package” products. After consumers fill in a questionnaire about personal body information on their official website, persona will prepare a “nutrition package” and deliver it to your door every month. This is similar to the domestic customized nutrition brand “lemonbox”, but the evaluation granularity of lemonbox is larger, and the product matching items are less and basic (persona does not adopt subscription system in China). The types of diseases, nutrition types and nutritional products covered by persona assessment are more abundant, deeper and more targeted.
It can be seen that there are two effective methods for consumer brands to do functional nutrition food: one is to use the original brand and product line to launch new products; the other is to expand the business product line through acquisition and merger. For China’s functional and nutritional food, Nestle is already a leading CpG brand, and is expected to develop Nestle’s health science department into a “healthy little Nestle” with brand power. In addition to Nestle, Danone is also a CPG brand focusing on human health and nutrition. Danone has set up its business of medical nutrition in China, focusing on adult medical nutrition and children’s medical nutrition.
Recent development of food venture & innovation companies
Santon launched a new line of instant oatmeal lattes to enter the wider instant coffee market
Author: Hai Feng
Source: three and a half WeChat official account, three half day Cat flagship store, food venture insight by FoodPlus
three and a half instant oatmeal latte products line of three new products, photo source: three and a half
Recently, three and a half meals have launched a new product line: instant oatmeal latte, a freeze-dried instant product that combines freeze-dried coffee (Matcha) and freeze-dried oat powder. According to the information of Santon and half wechat and tmall, the demo advanced version is launched at present, which means that the product has not been fully finalized and is still in the state of test iteration, and the product will be improved and upgraded with the feedback from consumers.
The first batch of instant oatmeal lattes were launched with three flavors, namely Italian coffee, origin coffee and Matcha flavor. According to the information from Santon half day Cat store, the price of this product is 89 yuan / 6 bottles, and the net content of each bottle is 25g. As a new product, the activity price is 79 yuan / 6 bottles. The first 3000 sets have been sold out in about 1 minute after the launch.
Three and a half dins of pre-existing high-quality freeze-drying instant product line can be understood as mainly coffee powder, which consumers use to make black coffee, or use milk and other drinks to make milk coffee and special coffee drinks. This product type does not occupy a high proportion in traditional instant coffee. In contrast, coffee powder mixed with coffee partner is the mainstream instant coffee product.
The instant oatmeal latte launched this time can be understood as adding coffee partner to the original high-quality freeze-dried instant coffee, so as to enter a broader and more common consumption habits of instant coffee products. Oatmeal is a hot coffee partner in the world in recent years, which also represents the three and a half hope to enter a broader instant coffee market 。
In March this year, three and a half meals won the investment of Sequoia Capital. Food venture capital insight by foodplus specifically analyzed the event. At that time, we mentioned that the medium and high-end instant coffee market was an opportunity for three and a half meals. From the perspective of product pricing, instant oatmeal latte is a higher end product line than the original quality freeze-dried instant coffee, and it is also a new instant coffee solution. For three and a half meals, we can continue to explore the possibility of boutique instant coffee, on the other hand, we can further strengthen our competitive advantage.
For the action of pushing new products in three and a half meals, we have also made a certain interpretation in food venture capital insight by foodplus. Welcome to click here to read.
The project planning of Yuanqi forest Tianjin factory has entered the state of publicity, while upgrading the brand logo, gradually weakening the Japanese style
Author: Hai Feng
Information sources: enterprise inspection, interface news, Yuanqi forest tmall flagship store, and past foodplus weekly
Yuanqi forest Tianjin factory may become its second factory. Photo source: Tianjin Municipal Bureau of planning and natural resources
Recently, we have learned from the enterprise that the project planning of Yuanqi forest Tianjin factory has entered the state of publicity, and the transaction price of land purchase is 47.8 million yuan. According to the previous 36kr report, Yuanqi forest plans to build three factories nationwide, of which the first plant has been completed in Chuzhou, Anhui Province, and some product lines have begun to be produced in Anhui factories. The design capacity of phase I of Anhui plant is 30 million boxes. It is particularly noteworthy that Yuanqi forest has launched a new product of bubble juice: Full Score, which will be produced in Anhui factory. In addition, Anhui factory will also carry out phase II construction. It is expected that the alien product line will be implemented in Anhui factory phase II.
When there was no self built factory, Yuanqi forest’s OEM factory included many well-known beverage enterprises and OEM factories, including Tongshi, Jianlibao, origin and Toyo. Although the Anhui factory has been completed, the OEM factory is still the main supplier for the production of Yuanqi forest’s classic product line, including bubble water, burning tea, milk tea and alien products.
Another factory of Yuanqi forest is located in Zhaoqing, Guangdong Province. According to the information from the enterprise investigation, it has completed the land purchase in July this year, with the transaction price of 20.83 million yuan, and began to invite bids. According to the bidding documents, Zhaoqing plant in Guangdong mainly produces bubble aquatic products in the early stage, with a design capacity of 24 million boxes and a total investment of 400 million RMB yuan.
With the gradual production of three factories located in central, North and East China of Yuanqi forest, it means that Yuanqi forest needs to be more quickly distributed in the market.
A comparison of the old and new logos of the Yuanqi forest in shows the new logo on the left and the old logo on the right. Image source: interface news
Recently, we have observed that Yuanqi forest has upgraded its logo and product packaging. The most obvious thing is that the logo of Yuanqi forest has changed to Qi, followed by the logo of Yuanqi forest Japan Co., Ltd.
This indicates that Yuanqi forest will enter a new stage. As a start-up enterprise and a new brand, the early Yuanqi forest, with its Japanese style and label, can form a certain degree of recognition in the market as well as among consumers. However, this method is also controversial at present. The controversial point in the market is why Chinese brands should do things of pseudo Japanese style. With the promotion of Yuanqi forest brand awareness, products have also entered a wider range of channels and cities, and the Japanese label is not suitable for the development of the company.
For more analysis of Yuanqi forest, click here to read our previous weekly.
Big company news
Heineken Brewery (USA) launched hard seltzer brand sunrise in cooperation with Arizona beverages
Information sources: Official Websites of Foodbev, Arizona beverages, canijilla and bask
3 image source: Arizona beverages official website
On October 15, Heineken (USA) and Hornell brewing company, a subsidiary of Arizona beverages, announced that they would launch Arizona’s hard seltzer brand sunrise to the market in the first quarter of 2021. According to the press release, sunrise is made from a large number of fruits. Among the first products, there are mango, cherry, lemon and grapefruit flavors, with 11.5 ounces per can, 100 calories and 4.6% abv.
“We are very happy to work with Arizona to launch the next hard seltzer,” said Jonnie Cahill, chief marketing officer of Heineken (USA). Most hard seltzers on the market today are transparent and have similar flavor characteristics, so together we found an opportunity to add some fruit to this category because we know consumers are looking for real ingredients and flavors. “
Heineken beer (USA) is promoting hard seltzer products in the U.S. market. Photo source: Official Website of relevant brands
Like other beer giants, Heineken has been trying to expand hard seltzer’s business. In addition to the launch of sunrise, Heineken recently announced the launch of canijilla, a Mexican based brand, and bask, an IPA style brand.
Products of Arizona beverages, image source: Arizona beverages official website
Arizona beverages, a beverage company with Heineken (USA), was established in New York in 1992 and is a family business. The company’s products are famous for their colorful and artistic packaging design, including iced tea, energy drinks and fruit drinks. Arizona beverages is currently the largest manufacturer of RTD iced tea in the United States.
Coca Cola to stop production of tab soda, strategic adjustment is still continuing
Author: Hai Feng
Source: fooddive, past foodplus weekly
Coca Cola’s tab soda (Center), image source: fooddive
According to fooddive, Coca Cola is about to discontinue its carbonated beverage brand, tab soda, which was launched by Coca Cola in 1963, and is the first carbonated beverage product to focus on diet. This is part of Coca Cola’s strategic reorganisation plan, which will cut down about 200 brands worldwide, most of which are small and sold only in a single market.
According to the report of the Wall Street Journal, tab soda accounts for 0.1% of the world’s $22 billion diet coke market, while diet coke and zero coke, which belong to Coca Cola, account for 35% and 22% respectively.
Cutting off tab soda is also in line with Coca Cola’s recent strategy for itself, that is, focusing on brands that are growing and have the potential to achieve large-scale development, such as AHA flavor bubble water, TOPO Chico natural gas bubble water, innocent fruit juice and so on.
It can be predicted that after this strategic adjustment, Coca Cola will further focus on its core brands. At the same time, due to the large scale of Coca Cola business, all over the world, this adjustment will continue for a period of time, which may involve brands in the Chinese market, but relevant information has been received.
Investment and financing news
Information sources: indiaretailing, mint, startupnews, vccircle, yourstory, teamonk official website
Photo source: teamonk official website
According to foreign media reports, recently, Indian tea brand “teamonk” has won 65 million rupees (about 890000 US dollars) in a round of financing. This round of financing is led by India’s angel investment institution, reflection point ventures, and sarcha ventures and lead angels, angel investment funds of sarcha advisors.
In addition, three individual investors, Madhu K Mohan, an American endocrinologist and member of the Indian public health foundation, Anil Menon, senior adviser to the president of the world economic forum, and Jai Gupta, an entrepreneur, are also involved in this round of investment. The new round of financing will be used for teamonk’s international business expansion in the United States, the United Kingdom and Canada.
Teamonk was founded in 2016 by Ashok Mittal and Amit Dutta, former executives of Unilever India. Ashok Mittal, the founder of Unilever, has been in Unilever for 30 years, and the founding team has rich experience in the tea industry. Teamonk selects high-quality tea from high-quality and high planting tea plantations such as Nilgiri and Darjeeling, hoping to create a high-end global tea brand with the goal of “looking good and feeling good”.
At present, teamonk’s product series are mainly divided into green tea, black tea, white tea, oolong tea and characteristic herbal tea. The product matrix is very rich. In addition to tea varieties, teamonk also divides its products from three dimensions: different origins, different functions and different ingredients. Teamonk’s green and black teas include a range of products with rich ingredients, such as rose, chamomile, clove, lemon grass and nearly 20 product combinations. In terms of functionality, different products have different targeted functions such as detoxification, weight management and immunity improvement.
So far, teamonk has been distributed to more than 20 countries and regions such as the United States, Europe, the Middle East, Japan and so on, with a total historical financing of 235 million rupees.
Tetrahydrocannabinol beverage company deep desert beverage completed $1.65 million round B financing
Information sources: Foodbev, PR Newswire, deep desert beverage
Image source: Official Website of deep desert beverage
On October 9, deep desert beverage, a company founded in Nevada, USA, announced the completion of a round of 1.65 million US dollars in round B financing. The company plans to launch its premium, non-alcoholic, marijuana based beverage line in California in the first quarter of 2021. Previously, the company raised $1.06 million in a round of financing.
Alan pleskow, founder and CEO of the company, said the round a financing helped the company refine its beverage formula and obtain all necessary licenses and talent recruitment. The round B financing will be used for infrastructure construction in Nevada, laying the foundation for the product launch in the first quarter of next year.
Livekindly, a plant based food company, received a new round of financing of 135 million US dollars
Information sources: foodbusiness news, fooddive, bluehorizon official website, livekindy website
Image source: Blue Horizon
According to food business news, livekindy, a plant-based food company, has completed the latest round of financing of $135 million. Blue partners, a supplier of raw materials, has a long history of financing. In March this year, livekindly also received $200 million from investors including its founder.
The funding of this round of financing will be used to increase production capacity and accelerate the launch of its brand to markets such as the United States in 2021. At the same time, the fund will also focus on the development of new products, focusing on plant-based chicken and eggs. In addition, livekindy will continue to invest in the acquisition of other plant-based food brands.
What is worth paying attention to is the development process of livekindly. Livekindly was born in March 2020. It was renamed by foods united, a venture capital firm, through the acquisition of livekindy media, a digital media platform for plant-based food. After that, livekindy acquired many brand enterprises of vegetable meat, including fry Family Food Co., likemeat, oumph, and invested in Puris holding, a pea protein supplier.
Fry family food Co is an old and popular vegetable meat company in South Africa. It was founded in 1991 and can provide all kinds of pure vegetarian chicken products. Headquartered in Sweden, oumph mainly sells vegetable “meat” pizzas and strips, while German company likemeat produces a variety of kebabs, chicken nuggets, curry chicken and fried chicken chops.
At present, the product direction of livekindly mainly focuses on the substitute of chicken. In an interview with foreign media, Kees kruythoff, chairman and CEO, said that:
Chicken is the most consumed meat in the world and has a broad demand. In addition, compared with plant-based beef, vegetable chicken can be made from some simple raw materials, without the need for a wide range of other raw materials and deep processing.
It is worth mentioning that the company has an experienced management team, the core executives are from the consumer goods giant enterprises. Kees kruythoff, chairman and CEO, was the president of Unilever’s North American and global home care division; Mick van Ettinger, chief marketing officer, was the former vice president of Unilever; Aldo UVA, chief operating officer and chief research and development officer, was former chief operating officer and Open Innovation Officer of Ferrero; Knopf was a former CFO of kafhenshi.
Throughout Europe and the United States and other foreign markets, the trend of vegetable meat has become a common trend. Driven by this trend, a few representative enterprises in the field of vegetable meat in China have obtained financing from the capital market. However, considering the problems of vegetarianism, cleaning label and acceptance of vegetable meat, the development of vegetable meat in domestic market may take some time.
Trends of investment institutions
Doffer food incubator announced its first investment in four Chinese plant based start-ups
Source of information: surging, doffer food official account
two partners of Daofu, source: vegconomist
Previously, we reported that daofuzi food announced the formal establishment of daofuzi venture fund 1, which plans to focus on supporting and investing in 30 alternative protein food start-ups in the Chinese market in the next three years.
Doffer’s food incubator was launched in April this year, jointly sponsored by daofuzi food and new crop capital, a well-known alternative protein early investment institution. On October 16 in Shanghai, doffer food incubator officially announced the first four seed companies:
[70 / 30 exploring vegetables]
A Shanghai based start-up company focuses on providing delicious and healthy plant-based takeout food to young consumers.
[fresh food technology]
A Shenzhen based start-up company specializing in the production and sale of plant-based yoghurt and other related plant-based products that it has developed for several years.
[burning juice nutrition technology]
A Beijing based start-up company focuses on developing pure plant-based and organic fruit products for young mainstream consumers.
A Beijing based start-up company focuses on the development of plant-based functional nutrition drinks for children aged 6-12.
From the four projects in this issue, we can see that doffer’s investment strategy is to start from the young consumer groups to cultivate the consumption habits of young consumers and even their descendants. Market education of alternative protein will be a long process, but it is also inevitable in the sense of human development. Population, agricultural structure, environment and other factors require human beings to provide protein supply solutions other than animal protein. Chinese people consume 28% of the world’s total meat consumption every year. Although China’s consumer market can not provide a vast living soil for alternative protein products from the perspective of purchasing power and consumption consciousness, in the long run, if the protein supply starts to change structurally, China’s market has great potential.
Some interesting new products
7 eleven launched its own energy drink Triton, which is mainly sugar free. It contains natural caffeine, natural theanine, vitamin B, ginseng, taurine, guarana and some amino acids. Triton currently has three flavors: blood orange grapefruit, strawberry kiwi fruit and lemon grape orange. (source: Food Business News)
Kingsland drinks, a British wine brand, recently launched a low calorie cocktail line mix up with four SKUs, three of which are based on gin and tonic, and the other is based on vodka and lemon juice. 250 ml per bottle, less than 60 calories, the recommended retail price per bottle is 1. (source: Foodbev)
Bentsandley has launched a blended whisky called “world whisky” called “Biao”. The reason why it is called the world is because it uses the original liquor from five producing areas – Japan, Scotland, Ireland, Canada and the United States. The wine is currently sold exclusively in 16 tourism retail channels, with a recommended retail price of 65 euros or $71. (source: Foodbev)
Read more food plus articles
Click on the picture to read the article
Click on the picture to read the article
Click on the picture to read the article
Click on the picture to read the article
Click on the picture to read the article
Click on the picture to read the article