Virginia Dare, We-e Flavors Form Joint Venture

BROOKLYN, N.Y.Virginia Dare and Shanghai-based We-e Flavors have joined together to establish a new full-service flavor company based in Shanghai. The joint venture agreement was signed between the two companies on Dec. 31, 2012, and provides Virginia Dare with a successfully established turnkey operation in China.

The venture will use the new Chinese name  (wei yi wei de), which references the strength of great flavor, along with the long-standing Virginia Dare name. The company will operate from the site of the former We-e Flavors that is conveniently located just south of Shanghais city. The facility has full flavor creation, product application and production capabilities. We-e Flavors' Founder Aaron Gao will continue as the general manager of the new joint venture.

The new venture will allow both companies to better capitalize on business opportunities in China, one of the worlds largest and fastest-growing economies. We-es existing understanding of the Chinese market will provide Virginia Dare with a turnkey operation in China. Virginia Dare brings its vast flavor portfolio, applications experience, technology base, and internationally recognized expertise in vanilla, tea and coffee to the joint venture. These strengths will be complemented by We-e Flavors extensive flavor portfolio and local market business knowledge.

A joint venture with a local champion makes our entry into China unique. It brings us closer to our customers in China and provides us with immediate access and cultural knowledge in a critical market, said Virginia Dare President Howard Smith, Jr.

The synergies created by the new venture will bring both companies customers a multitude of benefits, such as exciting new flavor offerings, expanded knowledge of both global and Chinese markets and new product concepts for customers worldwide.