China's Haitian buys 118-year-old Hong Kong brand Amoy to crack Western shelves
What's the deal? Foshan Haitian Flavouring and FoodDealroom has a profile for this one. Try Dealroom →, China's largest condiment maker, has acquired 100% of Amoy Food LimitedDealroom has a profile for this one. Try Dealroom →, a 118-year-old Hong Kong brand. The deal closed on September 10 through Haitian's overseas platform, Haitian International InvestmentDealroom has a profile for this one. Try Dealroom →. The purchase price was not disclosed.
Who's the target? AmoyDealroom has a profile for this one. Try Dealroom →, founded in Xiamen in 1908 and headquartered in Hong Kong since, spans condiments and frozen dim sum. It sells hundreds of SKUs across more than 40 countries and regions, with a dedicated North American subsidiary and production bases in Singapore and Malaysia. Before the deal, it was indirectly wholly owned by CITIC CapitalDealroom has a profile for this one. Try Dealroom →.
Why now? Haitian dominates a maturing domestic market — its half-year revenue rose 6.01% to ¥16.15 billion — and is chasing a second growth curve abroad. Most Chinese condiment firms export finished goods but invest little in local production or distribution.
What's the endgame? Haitian brings supply-chain scale and R&D; Amoy brings decades-old overseas brand equity, distribution networks, and local teams. Amoy will keep its current products and service, and the two plan to jointly develop region-specific new products.
The expansion angle: The deal builds on a broader push. After its 2025 A+H listing — which earmarked about 20% of proceeds for overseas branding, channels, and supply chains — Haitian set up subsidiaries in South Korea, Singapore, the US, and Malaysia in the first half of 2026, plus production bases in Indonesia and Vietnam. Its products now reach more than 80 countries and regions.
What could go wrong? Dual-brand positioning, supply-chain coordination, and cross-regional management will take time to land. Amoy's revenue is modest, so the near-term contribution to Haitian's results will be limited; long-term value hinges on integration.
The signal: The market reads this as a strategic move — not a financial one — to shift Haitian from exporting products to operating locally. As Chinese condiment leaders hit the ceiling at home, buying an established Western foothold beats building one from scratch.
Image credit: jessicafm
