# Xinjufeng to acquire 28.22% stake in Fenmei Packaging

Xinjufeng announced a plan to acquire a 28.22% stake in Fenmei Packaging for approximately HKD 999 million via cash, becoming its largest shareholder. The deal aims to strengthen the domestic aseptic packaging industry.

- Type: Acquisition
- Announced: 2023-01-30
- Where: China
- Value: $127.0M (999.0M HKD)
- Status: announced
- Products: aseptic packaging materials
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [JSH Venture Holdings](https://endata.com/companies/10820.md) (partner)
- [Xinjufeng](https://endata.com/companies/68186.md) (acquirer)
- [Fenmei Packaging](https://endata.com/companies/68187.md) (target)

## Sources

- [zqrb.cn](http://www.zqrb.cn/gscy/gongsi/2023-01-30/A1675071424570.html), 2023-01-30: "通过本次参股投资，双方有望在产品设计、研发领域、销售市场等开展合作交流，对推进上市公司完善产品种类和市场布局有一定积极作用。"

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