Chinese drink company Mixue (HKG:2097) will purchase coffee beans and other farm produce from Brazil for 4 billion yuan over the next three to five years, Xinhua News Agency reported Tuesday.
Mixue also intends to expand its footprint into Latin America's largest economy by establishing its first store and supply chain factory, the report said.
Its factory in Brazil is seen to provide 25,000 local jobs, Xinhua said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.