In a stock exchange filing, AgriNurture said it acquired the additional shares from Lian Shunming for 4.09 million Chinese yuan (approxinately P29.75 million).
The acquisition of additional stake resulted in AgriNurture becoming the majority shareholder of Fucang and is seen to strengthen the company’s position in the expansion being undertaken in China.
Located in Zhongshan City, Guangdong province in China, Fucang is engaged in agriculture commodity trading and has various investments in rural real estate development and agriculture trading platform.
It? imports rice and fruits from South East Asia.
AgriNurture, on the other hand, supplies fresh produce to the country?s largest retailers.? It also owns popular fruit shake retailer The Big Chill.