Joyvio and Golden Wing Mau Merge into China’s #1 Fruit Company

On December 16, Joyvio Group, a subsidiary of Legend Holdings, Ltd., and Golden Wing Mau Group announced their upcoming merger to form a new company, Joyvio Golden Wing Mau.

The new management team will consist of managers from both sides, while Chen Shaopeng, Senior Vice President of Legend Holdings and Chief Executive Officer of Joyvio Group, and Liu Mau Wah, CEO of Golden Wing Mau, will serve as co-presidents of the new company. Zhang Jian, Golden Wing Mau’s General Manager, will take on the role of new CEO.

According to Chen Shaopeng, the ownership structure will be 1:1 between the two sides. This merger includes the fruit section of Joyvio, while the wine and tea sections will remain as independent entities.

Joyvio is the modern agriculture section of Legend Holdings, providing consumers with from-farm-to-table agricultural products with safety and high quality. Its key products currently include blueberries and kiwifruits, although Joyvio entered the banana industry earlier this year and is dedicated to further expanding its product range to cover the entire fruit category.

Established in 1998, Golden Wing Mau has devoted itself to becoming the leader of China’s fruit industry via sustainable development. It currently supplies some 5,000 stores, reaching annual sales of 4 billion RMB.

Produce Report is looking forward to monitoring how the merger will affect the Chinese fruit market.