On December 16, China’s well-known vertically integrated fruit company- Joyvio Group (under Legend Holdings) and China’s largest fruit supply chain company-Golden Wing Mau Group officially announced a strategic merger for new development milestones. After merger, the new company will be China’s largest fruit company with the overall sales turnover of RMB 5 bn. Peter McBride, Chairman of Zespri International Limited, Miguel Allamand, Chairman & President of Exportadora Subsole S.A., Andrew de Haast, Capespan Group Limited, Group Financial Director, Ricardo Larrain, CSO of Hortifrut S.A. and many other major partners of Joyvio and GWM as well as Mr. Zhang Yuxiang, President of China Agri-produce Marketing Association, Mr. Huang Yaodong, Member of the standing committee of Baoan District all attended the event.

 

Joyvio And Golden Wing Mau Strategic Merger Press Conference


    As with China’s rapid economic growth and consumption upgrading in recent years, people are having stronger demand for healthy and nutritious fruit. Fruit industry has become an advantageous area in agro sector. Statistics show that fruit retail volume in China market has reached 170mn tones, and the market size registered a trillion yuan. Meanwhile, the growing concerns on health also tap on the huge consumption potential and business opportunities on China’s fruit market.

    Mr. Chen Shaopeng, Senior VP of Legend Holdings & President of Joyvio Group said “China’s fruit industry will enter a new stage with upgraded industrial chain, globalized presence and scaled development. Based on the common industrial philosophy and vision, years of cooperation, trust and appreciation, Joyvio Group and GWM Group unite together. It is fair to say that his strategic merger seizes the momentum. The new merged company is committed to becoming a fruit company with global influence and providing more safe, quality and flavorsome fruits to customers.”


Mr. Chen Shaopeng, Senior VP of Legend Holdings & President of Joyvio Group


    Being brand-oriented in the past three years, Joyvio has built up a unique model with vertically integrated service platform, global presence on technique & resources and full traceability management system. Now it has exclusive variety rights, advanced breeding & seedling centers, tens of thousands mu of farms in China and beyond, engineering technical centers and cold chain & storage facilities. With 18 years of expertise and over 20 subsidiaries, GWM, China’s largest fruit supply chain company has wide range of business covering growing, storage, cold chain logistics, import & export and distribution. It has a leading position in scale, supply chain and sales channel. The strategic merger will enable both sides to form synergy on their respective strengths and experience and lead to a burst of growth momentum.                       

     Some analysts hold that the strategic merger of Joyvio and GWM is an important step to increase competitiveness and will bring positive impact to the whole industry. This event marks the industry competition is evolving from regional to national, from sales scale to the competency of vertically integrated industrial chain, from individual battle to group battle where powers unite together. Mr. Zhang Yuxiang, President of China Agri-produce Marketing Association expressed his hope that the merger of Joyvio and GWM will drive the strategic upgrading of China’s fruit industry.

    Mr. Liu Mau wah, President of GWM Group said, “By uniting together, the merged company will form a balanced and sustainable supply chain that extends from farm to table and form a professional team with expertise in all links.”  Based on the philosophy of “Create Value, Share Value”, the merged entity is committed to working closely with partners to forge around the globe a fruit value chain that has the best variety, the best producing base, most reputed brand, highest efficiency, best status fruit and the best customer experience; committed to becoming an open platform that serves all links of fruit supply chain; committed to becoming a fruit company with global influence.”



Mr. Liu Mau wah, President of GWM Group


    The management of the merged company will be made up of the major management in two companies. Mr. Chen Shaopeng, Senior Vice president of Legend Holdings & President of Joyvio Group and Mr. Liu Mau wah, President of GWM Group will become the co-chairman of the new company. Mr. Zhang Jian, current General Manger of GWM will be the President of the merged company. In light of its own development, the company may consider going public to achieve faster and long-term growth.

    Mr. Liu Chuanzhi, President of Legend Holdings said, “Within only a few years, Chen Shaopeng and his Joyvio team established the unique model and created certain brand awareness in the industry and among customers.GWM Group is an excellent company and has always been an important partner of Joyvio. Mr. Liu and his team aim high, own extensive experience and passion. We share the same vision. I’m exciting that two companies merge as one. Legend Holdings will show firm support to the new company and we hope the company will contribute its own share to improve China’s fruit industry and living quality of Chinese people.”


Mr. Liu Chuanzhi, President of Legend Holdings

 

Joyvio Golden Wing Mau Staff