60% of the stock of Changbai Eco-Beverage Co., Ltd has been acquired by CNOA. The closing of this agreement should be finalized in March of 2010.
China Organic Agriculture's CEO, Mr. Li Jinsong, said, "We believe that the opportunities in the blueberry industry are enormous as blueberry based products will become increasingly in demand in China with the growing interest in healthy food alternatives. Changbai is well positioned to serve this market and to benefit from this growth. Now that we have an agreement, assuming the satisfactory conclusion of our financial and legal due diligence, and receipt of all necessary government approvals, China Organic Agriculture's distribution network and broader-based relationships will enable Changbai to expand its business and more quickly penetrate this growing market with this promising beverage and product group. We look forward to working together to maximize the potential."
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About China Organic Agriculture
China Organic Agriculture is based in China and is primarily engaged in the acquisition, trading and distribution of agricultural products
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