News

Bayn signs JV for China sugar reduction

22 Jan 2018

Bayn Europe has signed a joint venture agreement with real estate development company HuaHe International Asset Management to introduce sugar reduction to the China market.

Bayn Europe has signed a joint venture agreement with real estate development company HuaHe International Asset Management to introduce sugar reduction to the China market.

Both partners agreed on a cooperation model and mutual commitments for the set up of the joint venture. Bayn will hold 65% of the equity and HuaHe will hold 35%. Further to rolling up a sugar reduced concept store under Bayn Europe’s trademark takk!, Bayn China will have ongoing discussions regarding a sugar reduced industry park with Chinese government stakeholders.

“Sugar reduction means a system change and the food chain is broken when the added sugar is replaced. This is also true for the Chinese market, despite having 110 million diabetics and a very large child obesity problem due to unhealthy lifestyles with excess sugar consumption”, saids Lucy Dahlgren, CEO of Bayn Europe. “We are glad to now have a strategic agreement with a partner, outside the food system, who pursues the real need for sugar reduction. The first showcase of takk! concept store is planned to open before this summer, and it will be launched as a franchising concept in this fall. We have dialogues with several investment partners and plan to set up 200 takk! stores by 2022.”

“We are glad to have Bayn who has brought us a totally new concept to our property customers. Particularly to government stakeholders who want to develop their cities in a sustainable manner”, said Dr. Henry Yang, General Manager of HuaHe. “We, as lifestyle architects in real estate and the property industry, believe that the opportunities arising out of the synergies between our two companies are very promising.”