Trustar Capital Completes Sale of Amoy Food to Haitian Flavouring

Trustar Capital has completed the sale of its entire equity interest in Amoy Food Limited to Haitian Flavouring and Food (03288), which has accordingly completed the acquisition of Amoy Food. The transaction value was not disclosed. Following the completion of the transaction, full ownership of Amoy Food rests with Haitian Flavouring. Citigroup served as financial adviser on the transaction.

Trustar Capital had completed a controlling acquisition of Amoy Food's global business in 2019. Amoy Food is headquartered in Hong Kong, and the Amoy brand was founded in 1908.

Amoy Food's products span soy sauce, oyster sauce, seasoning sauces and frozen dim sum, among other categories, with a sales network covering more than 30 countries and regions worldwide. The company positions itself around "made in Hong Kong" manufacturing and traditional flavours, and tailors its product mix to the local consumer needs of different markets. Haitian Flavouring is a China Time-honoured Brand and a Chinese condiment company whose product portfolio covers a range of kitchen scenarios.