Capital, Earnings & M&A
Why Are Snack Busy and Its Peers So Eager to Dump Bestore?
Snack Busy has been very busy this year. In February, Bestore announced a joint investment in Zhao Yiming Snacks with Black Ant Capital, with Bestore investing 45 million yuan for a 3% stake. By October, Bestore sold that 3% stake for 105 million yuan, citing operational needs. Shortly after, Zhao Yiming merged with Snack Busy, making Snack Busy the largest player in the bulk snack industry. In December, Snack Busy accepted investments from Haoxiangni and Yanjin Puzhu, valuing it at 10.5 billion yuan, but Bestore, feeling sidelined, filed a lawsuit against Zhao Yiming for concealing major matters. This article analyzes why Snack Busy Group is so eager to replace Bestore with Haoxiangni and Yanjin Puzhu, citing business model conflicts, supply chain advantages, and the need for capital in a fiercely competitive market.
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