China adds to its shopping trolley
Language Connect recently provided interpreters for a Chinese delegation from Bright Food, the Chinese conglomerate looking to acquire United Biscuits, owners of Jaffa Cakes, McVitie’s and Jacob’s amongst other British household names.
It struck me that this is very much a deal of our times. A Chinese buyer of a Western brand. A deal that goes some way at mitigating the insatiable appetite (excuse the pun) of its domestic consumer market. At a time when grain prices are soaring, food security is high up the agenda of most nations. By buying United Biscuits, Bright Food can lock in some important contracts for the raw components, palm oil and wheat, of UB’s products agreed when prices were lower.
Aside from the political and social characteristics of this deal, it will be fascinating to see China’s approach when it comes to selling and marketing non-Chinese products in non-Chinese markets.