The acquisition is part of efforts to seek potential business opportunities linked to the group’s existing areas of business. NutryFarm International Limited, an investment holding company engaged in the research,…

The acquisition is part of efforts to seek potential business opportunities linked to the group’s existing areas of business.

NutryFarm International Limited, an investment holding company engaged in the research, development, production, and sale of nutrition, health food, and related health products in the People’s Republic of China, is acquiring a 45 per cent stake in First Linkage for 90 million yuan (S$18.7 million).

The acquisition is part of efforts to seek potential business opportunities linked to the group’s existing areas of business, one of which is an Internet management business, so as to help diversify income streams. Its core business is in nutrition and health food products.

First Linkage owns First Linkage HK, which in turns owns Beijing Zhonglian Shengtong Internet Technology Co.

Zhonglian Shengtong provides exclusive technical and other services to the Shengyuantong Group, including education management consulting services, intellectual property licences, technical support and consulting services.