Asian Citrus buys Beihai for $263 million

China's largest orange grower Asian Citrus vertically integrates by buying fruit juice concentrate producer Beihai BPG, giving private equity investor Lunar Capital a profitable exit.

China’s largest orange grower, Asian Citrus Holdings, will buy Beihai Perfuming Garden Juice Company Beihai BPG at a valuation of HK$2.04 billion $263 million, giving a consortium of investors led by private equity firm Lunar Capital a healthy return on an investment made less than a year ago.

Asian Citrus signed a memorandum of understanding with the owners of Beihai BPG last month. The price now agreed between the parties comprises HK$780 million in cash to...

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