China Organic Agriculture, Inc. (OTC:CNOA) has announced that it will acquire 60% of the stock of Chaingbai Eco Beverage Co Ltd. for $10.25 million. The acquisition is expected to close during March of 2010. Chaingbai is a producer and distributor of blueberry products in the Jilin Province of China.
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China Organic Agriculture, Inc. is engaged in the distribution of agricultural products such as green rice, organic rice, soy beans, and ice wine throughout china. Its products are distributed mostly through large agricultural distributors such as Shen Zhen Shen Jin Da Agricultural By-product Trading Co. Ltd., Beijing Jingu Hengfa Trading Co. Ltd., Shanghai Liang You Group Co. Ltd., Jinyunda Industry Development Co. Ltd, and Guang Guangliang Industry Co. Ltd. The company owns 100% of China Organic Agriculture, Ltd. and Far East Wine Holding Group Ltd.
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