Uni-President Enterprises Corp (統一企業), the nation's largest food conglomerate, yesterday announced a plan to acquire a stake in Tait Marketing and Distribution Co (德記洋行) to strengthen marketing and logistic services, according to a press statement.
Uni-President said it would buy 19.5 percent of Tait -- a consumer-goods distributor that markets groceries, personal care products, beverages and alcohol -- from the open market.
"We've been in talks with Tait for a long time and will choose proper timing to absorb the shareholding. We do not set any timetable to conclude the transaction," Uni-President spokeswoman Selina Wu (
Tait, which owns the famed Kaixi (
It recently made a deal to distribute Don Simon wine, Spain's premium brand, in Taiwan.
In contrast, Uni-President, whose parent company Uni-President Group (統一集團) owns the 7-Eleven operator President Chain Store Corp (統一超商) and has a stake in Carrefour Taiwan, is strong in distributing products via more contemporary channels.
Kaixi oolong tea has recorded impressive annual sales of NT$6 billion (US$182.7 million) through traditional channels.
After the share purchase is concluded, Uni-President will sit on Tait's board and participate in its operations, Wu said.
Shares of Uni-President fell NT$0.35 to close at NT$30.10 on the Taiwan Stock Exchange, while shares of Tait closed up NT$0.28 at NT$9.05.