Shanghai, China: China Merchants Americold (Hong Kong) Holdings – a joint venture of China Merchants Holdings International and Americold (USA) – and Yum! China have signed a Strategic Alliance Framework Agreement.
Under the agreement they will cooperate on the outsourcing and relocation of selected logistics centers for Yum! China and the establishment of new logistics centers in the future. The initial projects under the cooperation framework encompass the relocation and outsourcing of Yum! China’s Beijing and Harbin Logistics Centers long term service contract.
“The cooperation between Yum! China and CMAC is a strategic milestone in the development of outsourcing and third party logistics in China,” said Neal Rider, President of Americold International Operations and CEO of CMAC, in a statement. “Yum! China has been fast growing and our cooperation will allow Yum! to support the growth in its restaurant units with a flexible distribution infrastructure, while ensuring service reliability, product and temperature integrity and competitive cost. Yum! operates the largest integrated temperature-controlled distribution network in China today.”
Yum! Brands is listed on the NYSE (YUM). It is the world’s largest restaurant company based on number of system units, with nearly 38,000 units in more than 110 countries and territories. Through the three concepts of KFC, Pizza Hut and Taco Bell, Yum! develops, operates, franchises and licenses a worldwide system of restaurants which prepare, package and sell a menu of competitively priced food items.
China Merchants Americold (CMAC) is CMAC currently operates 9 refrigerated distribution centers in China, as well as a nationwide cold chain transportation network. CMAC, through its operating subsidiaries, KX Logistics (KXL) and China Merchants International Cold Chain (Shenzhen) (CMIC), is a leading nation-wide cold chain logistics provider in China, providing domestic and multi-national customers with professional and best-in-class cold chain distribution and logistics services.
