Merlin Swire, Deputy Chairman and CEO of John Swire & Sons Limited and Chairman of Finlays, and Mr Jiang Aiqing, Chairman of Damin, at the contract signing ceremony.

James Finlay (“Finlays”) has acquired an additional 20% stake in Damin Foodstuff (Zhangzhou) Co., Limited (“Damin”), the world’s largest manufacturer of tea extracts; the transaction increases Finlays’ shareholding in Damin to 40%. The purchase positions Finlays to capitalise on potential growth of the Mainland China market, which is already the largest and one of the fastest growing ready-to-drink tea markets in the world.