Deals
China’s Richest Man Hunts for Global Deals on Local Competition
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Hangzhou Wahaha Group Co., the beverage business owned by China’s richest man, is hunting for global acquisitions to build an overseas distribution network as economic growth slows and competition heats up at home.
The company is working with investment banks to identify food and beverage deals in Europe and Australia, Kelly Zong, head of international business and daughter of billionaire owner Zong Qinghou, said in a Sept. 11 interview. It is interested in companies that can help it source raw materials more efficiently and share distribution systems, she said.