China Food Company Plc : 31 July 2013 - Appointment of Non-Executive Director

Press Release 31 July 2013 China Food Company Plc

("China Food" the "Company" or the "Group")

Appointment of Non-Executive Director

China Food Company Plc (AIM:CFC), the leading Chinese manufacturer of cooking and dipping sauces, is pleased to announce the appointment of Daniel Saw as a Non-Executive Director which marks a significant strengthening of the Board and management of China Food. Daniel joins the Board with immediate effect.
Daniel brings to China Food Company considerable sector expertise from his extensive experience of working with Chinese food manufacturers. He is currently the CEO of China Huiyuan Juice Group Limited, a Hong Kong listed beverage company. Previously, he served as the president of Asia at Campbell Soup Company, a New York Stock Exchange listed company, and before that he was Chief Executive Officer and board member of Lee Kum Kee, a global Chinese soya sauce brand with annual revenues exceeding HK$1 billion. His experience in global FMCG businesses includes roles at Cadbury Confectionery, Kraft Foods and Philip Morris, at both a regional and an international level.
This appointment is supportive of the Group's strategy, which is further underpinned by the ongoing growth in the Chinese economy as evidenced by the strong retail sales growth of 12.7 per cent in the first half of 2013 (source: the National Bureau of Statistics ("NBS")).
As previously outlined, the Board remains focused on the further growth of the condiments business, with increased emphasis on balancing marketing spend against sales volume. The sale process of the Group's animal feed business is being progressed with an international adviser now appointed to manage the process, which is expected to complete during the course of next year.
John McLean, Chairman of China Food, said: "I am delighted to welcome Daniel to the Board of China Food. He has extensive experience in the food industry and will be a strong addition to the Board to support the Group in its next phase of growth. China Food has built a state of art production facility and the Board is pleased to be bringing in the skills and talent to match that, and to be enhancing the management team with individuals who will help in our strategy to capitalise on the rapid urbanisation in China. With Daniel's valuable input to the Board, particularly with respect to the Group's strategy, as well as other appointments that the Company will be making at a senior management level, the team will be further improved to enable us to rapidly develop the business."
Daniel Saw, aged 54, is a director/partner or has been a director/partner of the following companies/partnerships during the previous five years:
Campbell Soup Company
Lee Kum Kee Sauce Group
Save for the information disclosed above there is no other information to be disclosed on Daniel Saw under Schedule 2(g) of the AIM Rules.

- Ends - For further information: China Food Company Plc

John McLean, Chairman Tel: [phone]

Numis

www.chinafoodcompany.com
David Poutney - Head of Corporate Broking Tel: [phone]

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Geoff Nash / Ben Thompson (Corporate
Finance)
Simon Starr (Broking)

Media enquiries:

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Abchurch Communications

Henry Harrison-Topham / Joanne Shears Tel: [phone] [e-mail] www.abchurch-group.com

Notes to Editors:

China Food is a well-established food manufacturing business based in Shandong province in the People's Republic of China, a region with a population of circa 94 million. A recent report identified Shandong province as one of the five most attractive 'city clusters' in China, due to the high number of large cities in the province*. The Group manufactures numerous different product lines including soya sauce and bean paste, all targeting the Chinese domestic market, and sold through a network of distributors and outlets of supermarket chains in the north-eastern region of the PRC, such as Walmart, Carrefour and Jialejia.
The Chinese sauces, dressings and condiments market is expected to be worth CNY115 billion (US$15 billion) by 2013, driven by Chinese population growth and economic prosperity. The Chinese domestic market is rapidly expanding, and the Group is well positioned to benefit from China's demographic growth and increased urbanisation.
The Group's operations are highly scalable and able to support further growth, and with net assets of £32 million (as at 31 December 2012), the prospects for China Food are strong. Further information on China Food Company can be found at www.chinafoodcompany.com .