# COFCO Packaging acquires 51% of Jihong Packaging, plans aluminum can plant in Haining

COFCO Packaging acquired a 51% stake in Zhejiang Jihong Packaging for $20.4 million and will invest an additional $20 million to build a production line for 2 billion two-piece cans per year in Haining, Zhejiang, aiming to become the largest food aluminum can base in East China.

- Type: Acquisition
- Announced: 2017-07-20
- Where: Haining, Zhejiang, China
- Value: $40.4M
- Status: announced
- Capacity: 2 billion two-piece cans per year
- Products: two-piece aluminum cans
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [COFCO Packaging](https://endata.com/companies/4474.md) (acquirer)
- [Zhejiang Jihong Packaging](https://endata.com/companies/22825.md) (target)
- [Qingyuan JDB Herbal Plant Technology](https://endata.com/companies/26198.md) (target)

## Sources

- [news.pack.cn](http://news.pack.cn/show-330627.html), 2017-07-20: "中粮包装斥资2040万美元收购纪鸿包装51%股权，并增资2000万美元，投资建设年产20亿只两片罐生产项目落地手续已办理完毕"
- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/73171.html), 2017-08-10: "如建议投资落实，集团将与现有股东一起将清远加多宝打造成一个集品牌、浓缩液、供销平台为一体的运营平台。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.