Pear juice firm boughtThis article was originally published in Foodnews
EMERALD Acquisition Corporation, a Chinese pear juice concentrate producer, has been acquired by Merit Times International Limited for about US$15.1 million. Merit Times is the producer of Laiyang pear juice concentrate, and in January was granted the exclusive rights to produce the Laiyang concentrate by the Laiyang government for a period of 30 years. The company's products are distributed in Shandong, Guangdong, Liaoning and Jiangsu provinces. Emerald expects to use the net proceeds of the sale to build a new factory and a refrigerated warehouse to expand output of concentrate and to initiate production of its organic animal feed products.