China Fruits Corporation acquires Huangjia Nanfeng Tangerine Orange

China Fruits Corporation (CHFR) is expanding its tangerine- and wine-production capcity with the acquisition of Huangjia Nanfeng. Financial details of the transaction were not disclosed, but CHFR will acquire the assets and businesses of the Huangjia Nanfeng, which total $12.5 million.

These include over 360,000 acres of orchards, 240,000 acres of land with a reservoir, a manufacturing plant situated on over 20,000 acres, as well as the distribution network of the Huangjia Nanfeng.

“Huangjia Nanfeng's production lines and advanced technology will allow us to develop new products more rapidly while meeting our product-diversification goals," says Mr Chen Quanlong, chairman of the board, CHFR.