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Fosun Group picks up 20% stake in Taiwan’s Vigor Kobo

23 Nov 2012

Fosun Group has become the first investor from mainland China to back a Taiwanese food company by picking up a 20 per cent stake in pineapple cake maker Vigor Kobo.

The business has carved itself a niche since Taiwan opened its doors to mainland tourists in 2008 by rebranding Chinese cakes and pastries as speciality souvenirs.

Fosun vice chairman and CEO Liang Xinjun said the firm was very positive about the prospects of the consumption and consumption upgrade industries.

He added Vigor Kobo would continue to benefit from the growing tourism consumption across Taiwan and mainland China.

The island currently receives about 1.88 million mainland visitors per year, forging rapid development in markets such as the tourism food industry.

Fosun said it plans to help Vigor Kobo expand its pineapple cake business to famous cultural scenic spots in Shanghai, and launch souvenirs feature Shanghainese-style snacks.

Earlier this year the investment arm of Chinese drug maker Sinopharm partnered with the pharmaceutical unit of Fosun to launch an RMB1bn ($157m) private equity fund to invest in the healthcare industry.

Investors in the Shanghai Sinopharm Private Equity Fund include Fosun Pharmaceutical and Sinopharm itself, which owns an equity interest of over 30 per cent in Sinopharm Capital, the general partner.

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