Chinese condiment producer Foshan Haitian Flavouring and Food Company has purchased Amoy Food from private-equity investor Trustar Capital.
The transaction value for the Hong Kong-based food manufacturer was not revealed.
Trustar said in a statement that it had transferred its “entire equity interest” in Amoy Food to Haitian, which is listed in both Shanghai and Hong Kong.
Established in 1908, Amoy manufactures a range of products, including soy sauce, oyster sauce, cooking and seasoning sauces, and frozen dim sum.
The company states on its website that its products are distributed in “more than 40 countries”, with key markets including the US, UK, Canada, Australia and Japan.
Trustar bought Amoy’s international business from Ajinomoto in 2019. Reports that the private-equity firm was considering a sale of the condiment business first surfaced in 2023.
As part of the deal, Haitian and Amoy Food intend to combine their distribution platforms, manufacturing operations and supply-chain networks. The companies aim to pursue “new opportunities for long-term growth and sustainable development,” according to Trustar’s announcement.
Haitian’s portfolio includes soy sauce, oyster sauce, vinegar, ketchup and a variety of seasoning products.
For the first six months of the year, Haitian reported revenue of 16.15bn yuan ($2.41bn), representing an increase of almost 6% from 15.23bn yuan during the same period a year earlier.
Operating profit rose from 4.66bn yuan in the first half of 2025 to 4.96bn yuan. Net profit attributable to shareholders of the parent company climbed 7.2% to Y4.19bn.
Using figures from Frost & Sullivan, Haitian forecasts that China’s condiments market will expand from approximately Y511.3bn in 2025 to about Y689.7bn by 2030. This represents an estimated compound annual growth rate of 6.2%.
