Founded in 2007 and based in Shandong Province, China, Xiwang Food is the leading Chinese player in healthy consumable oils like corn oil and flaxseed oil. Xiwang Food has a vast sales and distribution network, selling its products in more than 85,000 mass merchandise stores and over 2,000 drug stores in China. The company has been listed on the Shenzhen Stock Exchange (SZ000639) since 2011 and currently has more than 5,000 employees. It is a subsidiary of Xiwang Group Company Limited, a large industrial enterprise company that also maintains investments in specialty steel, real estate, energy and beverages, among other sectors. Xiwang Group is ranked among the 500 largest companies in China, with consolidated revenue in excess of $5 billion.
The proposed transaction is subject to the satisfaction of closing conditions, including Xiwang Food’s shareholders’ approval as well as regulatory approvals in Canada, China and the U.S. The transaction is expected to close later in the calendar year.
Houlihan Lokey is serving as the exclusive financial advisor to Iovate and assisted in initiating, structuring, and negotiating the transaction.
If you would like more information about Houlihan Lokey, or if you have questions regarding the sale of Iovate, please contact one of the deal team members listed.
Deal Team Contacts, Consumer, Food & Retail Group:
William S.J. Hood, Managing Director, WHood@HL.com, +1.212.497.7884
Susan Roddy, Senior Vice President, SRoddy@HL.com, +1.212.497.4195
Alex Meyerguz, Vice President, AMeyerguz@HL.com, +1.212.497.7887
Asia: Weimin Chen, Managing Director, WChen@HL.com, +852.3551.2338
Houlihan Lokey (NYSE: HLI) is a global investment bank with expertise in mergers and acquisitions, capital markets,valuation, financial restructuring, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and the Asia‑Pacific region. Independent advice and intellectual rigor are hallmarks of our commitment to client success across our advisory services. Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global M&A fairness opinion advisor over the past 15 years, and the No. 1 global restructuring advisor, according to Thomson Reuters
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