Sino Agro Food, Inc. to Partner with Tesco, PLC
Rollout of Butcher Shops to Start within Shanghai Stores
GUANGZHOU, China, June 26, 2014
GUANGZHOU, China, June 26, 2014 /PRNewswire/ -- Sino Agro Food, Inc. (OTC BB:
SIAF), is an integrated, diversified agriculture technology and organic food
company ("the Company") with principal operations as primary producer,
processor, and marketer inthe People's Republic of China("PRC").
The Companyis delighted to announce that its China joint venture company
Qinghai Sanjiang A Power Agriculture Co., Ltd. ("SJAP") has entered into two
contracts with Tesco, PLC to become both a supplier and an in-store butcher
shop concessionaire of beef and lamb. The contracts became effective June 19,
2014 and run for five years.
Tesco, PLC is one of the largest grocery and merchandise retail chains in the
world, operating almost 7,000 stores with revenue of US $120 Billion. On May
29, 2014, Tesco formed a joint venture with China Resources Enterprise, Ltd.
("CRE"), operators of the "Vanguard" retail chain,to create the largest
multi-format retailer in China.
Sino Agro/SJAP will provide its own brand of product lines, as well as design
for its in-store butcher shops. Supply of beef and lamb will start in major
Shanghai Tesco stores, and branded outlets will expand in phases.
More information regarding grand openings, product lines offered,and relevant
developmentswill be forthcoming as it materializes.
The Company'sCEO, Solomon Lee commented, "Understanding that retail space
within Tesco stores is a guarded commodity, we are gratified by the confidence
Tesco has in the quality of our products and our abilities to meet production
volumes and Tesco standards. This contract will bring a new level of
awareness, stature, and value to the SJAP enterprise."
Sino Agro CFO Olivia Lai observed, "This partnership with Tesco, PLC provides
a most cost effective and cash flow effective manner to integrate the
distribution and retail levels of SJAP's business model."
About Sino Agro Food, Inc.
Sino Agro Food, Inc. (http://www.sinoagrofood.com) is an agriculture
technology and natural food holding company with principal operations inthe
People's Republic of China. The Company acquires and maintains equity stakes
in a cohesive portfolio of companies that SIAF forms according to its core
mission to produce, distribute, market and sell natural, sustainable protein
food and produce, primarily seafood and cattle, to the rapidly growing middle
class inChina. SIAF provides financial oversight and strategic direction for
each company, and for the interoperation between companies. The Company owns
or licenses patents, proprietary methods, and other intellectual properties in
its areas of expertise. SIAF provides consulting and services to joint venture
partners to construct and operate food businesses, primarily producing
wholesale fish and cattle. Further joint ventures market and distribute the
wholesale products as part of an overall "farm to table" concept and business
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This release may contain forward-looking statements relating to the business
of SIAF and its subsidiary companies. All statements other than historical
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Sino Agro Food, Inc. is not a Registered Broker/Dealer or a Financial Advisor,
nor does it hold itself out to be a Registered Broker/Dealer or Financial
Advisor. All material presented in this press release, on the Company's
website or other media is not to be regarded as investment advice and is only
for informative purposes. Readers should verify all claims and conduct their
own due diligence before investing in Sino Agro Food, Inc.
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and carries a high degree of risk.
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None of the information featured in this press release constitutes an offer or
solicitation to purchase or to sell any securities of Sino Agro Food, Inc.
SOURCE Sino Agro Food, Inc.
Contact: Peter Grossman, Investor Relations, +1 (775) 901-0344,
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