World’s biggest food group, Nestle SA is among the final bidders to acquire popular desi Chinese brand ‘Ching’s Secret’s’ parent, Capital Foods. The food conglomerate is looking to boost its presence in the fast-growing economy according to people familiar with the matter. Any deal of the desi Chinese brand is estimated to value over $1 billion.
Ching’s Secret has become a household with its spicy sauces and chutneys. Its most popular products include the Schezwan Chutney, Green Chilli Sauce, Manchurian masalas and its range of instant noodles. The company also sells Smith & Jones cooking pastes. Capital foods have attracted bids from numerous interested parties and Nestle’s bid might not be the winning bid.
Nestle SA is a Swiss multinational food and beverage company. It is the largest food company in the world, measured by revenues and other metrics, and is known for its wide range of products including baby food, bottled water, cereals, chocolate, coffee, dairy products, frozen food, pet foods, and snacks.
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