Legend Holdings Invests in KB Seafoods Company to Tap Global Seafood Industry

Legend Holdings Corporation has signed a strategic cooperation agreement with Kailis Family in Australia, to grow its seafood business on a global scale

Legend Holdings Corporation has signed a strategic cooperation agreement with Kailis Family in Australia, best known for its seafood business. The two companies will form a newly-capitalised joint venture called KB Food Group, 90 percent owned by Legend Holdings and 10 percent owned by the Kailis Family. Kailis Family injected KB Seafoods Company, which includes Kailis Bros Company along with National Fisheries Company, and its operation in New Zealand and Asia, into the new venture.

The seafood industry will be regarded as another core pillar in the agriculture and food segment for Legend Holdings. Based on the cooperation, the Company will make continuous investment in bolstering Legend Holding’s seafood industrial cluster to achieve the goal of becoming one of the seafood industry leaders in Asia-Pacific region and the world at-large.

Kailis Bros Company, a subsidiary of KB Seafoods Company, is the leader in Australia’s Seafood industry, providing Australian mainstream supermarkets and catering enterprises with more than 6,500 kinds of seafood and affiliate products. In the meantime, it exports lobsters and many other high-end products to East Asia market, including major brands like KB's, By George and Clipper K.

Chen Shaopeng, Senior Vice President of Legend Holdings will become the chairman of KB Food Group. Matthew Kailis, Former CEO of KB Seafoods Company will act as CEO of KB Food Group. The management team from the injected businesses of Kailis Family will play the same role in KB Food Group. The Company will commit itself to offering the existing clients high-quality products and services with the same business model, based on which to promote expansion and development of KB Food Group in Australia and globally.

In recent years, due to the sustainable development of global seafood industry, the demand from developed countries has been increasing.

Matthew Kailis, the CEO of KB Food Group stated: “We have long-held ambitions to grow our Australian and international businesses. We are pleased that we are able to be the strategic partner with Legend Holdings, who owns an outstanding reputation and strong comprehensive strength. In addition to that, it has established a number of influential enterprises with leading positions in multiple industries. Meanwhile, Legend Holdings treasures its brand and has deep understanding of industry and the excellent integration capability of global resources, which will greatly improve KB Food Group's current service level for existing clients and offer strong support for further development in Australia, Asia Pacific and around the globe.”

Chen Shaopeng, Senior Vice President of Legend Holdings said: “The strategic cooperation with KB Seafoods Company played an important role in overseas investments for the agriculture and food segment. Under Matthew Kailis's leadership, the management team has generated excellent operating capacity. The business model of ‘global resources + Australian consumption’ gradually matures, which has laid a solid foundation for the further development of KB Food Group. Both of us shares the same industry vision, And I am deeply convinced that today will be an important milestone for KB Food Group to be the global seafood leader.”

Legend Holdings is one of the largest investment holding Companies in China. With the development spanning more than three decades, it has established the "Two-Wheel-Drive" business mode of "Investment + Industry".

In the agriculture and food segment, Legend Holdings has always been devoted to global high-quality resources integration and providing high quality and safety products and services to customers. At present, related businesses and strategic alliances have been developed and formed with Joyvio Golden Wing Mau Group, Funglian Holdings, Liquor Easy, Joyvio Wine Company and Longguan Tea Company, Cloud Farm and a joint venture Company established in grain section with Heilongjiang Beidahuang Group.