Cash-rich Chinese buyers have been busily snapping up Western brands for quite some time now, and 2016 has seen a record $200 billion (£161bilion) worth of deals. Chinese businesses benefit from the recognition and prestige these iconic brands enjoy, not to mention the technology and distribution channels developed by their parent companies. Here are 20 well-known Western brands you might not have known are now majority- or wholly-owned by the Chinese. Published in 2017 – Via YouTube
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20 Famous Western Well known | brands bought by the | Chinese Companies
Volvo.
Renowned for its super-safe, perennially reliable cars, the vehicles arm of the much-loved Swedish automotive company was sold by Ford to China’s Zhejiang Geely Holding Group for $1.3 billion (£1b) in 2010.
London Taxis.
The Zhejiang Geely Holding Group followed up its purchase of Volvo in 2013 by buying The London Taxi Company (formerly Manganese Bronze), the firm that produces the most popular model of London’s iconic black cab.
Gieves & Hawkes.
The venerable tailor from London’s famous Savile Row was established way back in 1771 and former clients have included Horatio Nelson and Charlie Chaplin. Gieves Hawkes was sold in 2012 for $115 million (£92.5m) to Hong Kong’s Trinity, which has embarked on an ambitious expansion program in the UK and China.
Cerruti.
Trinity also owns prestigious Italian fashion brand Cerruti. Famed for its luxurious men’s suits and classic 1881 fragrance, the brand was bought by the Hong Kong-based company for $70 million (£56.3m) in 2010.
Weetabix.
The UK’s second biggest cereal manufacturer, which also makes breakfast cereal classics Ready Brek and Alpen, was taken over by Shanghai-based company Bright Foods in 2012. The Chinese firm paid $1.5 billion (£1.2bn) for a 60% controlling stake.
Smithfield.
Smithfield Foods, America’s premier pork producer, includes brands like Smithfield and Cook’s in its portfolio. China’s Shuanghui Group, the world’s leading pork producer, bought the company for $4.7 billion (£3.8bn) in 2013.
Club Med.
Last year, Chinese investment company Fosun International forked out $1.07 billion (£861m) to acquire the quintessentially French all-inclusive vacation brand, which it hopes to launch in the Chinese market.
Hoover US.
The US division of the vacuum cleaner company was sold by Whirlpool to Hong Kong-based investment company Techtronic Industries in 2007 for $108 million (£86.8m).
Grindr.
The world’s biggest gay dating app is now majority-owned by Chinese online gaming company Beijing Kunlun Tech. The firm, which helped launch Rovio’s Angry Birds game in China, paid $93 million (£75m) earlier this year for a 60% stake.
Motorola.
America’s Motorola is controlled by Chinese home computing giant Lenovo, which acquired Motorola Mobility in 2014. The company currently produces a range of Android-powered smartphones.
Inter Milan FC.
The first Italian Serie A soccer club to fall under majority Chinese ownership, Inter Milan was taken over by Nanjing’s Suning Holdings Group earlier this year. The Chinese company paid $289 million (£232m) for a 69% stake in the world-renowned club.
AC Milan FC.
Inter’s arch rival AC Milan has also fallen into Chinese ownership. In August, tycoon and former Italian President Silvio Berlusconi sold AC Milan in its entirety to a consortium of Chinese investors for $792 million (£637m), ending his 30-year tenure of the soccer club.
Hamleys.
London’s Hamleys is one of the most famous toy store brands in the world and a major tourist attraction. Now wholly Chinese-owned, the Regent Street institution was bought by Nanjing-based footwear company C.banner for $124 million (£100m) in October last year.
MG.
The quality British automotive brand was rescued from oblivion by Shanghai-based SAIC Motor in 2005 following the collapse of its parent company MG Rover. SAIC Motor has recently ceased production at MG’s Longbridge plant and moved all operations to China.
Waldorf Astoria.
Synonymous with Big Apple glitz and glamour, the landmark Waldorf Astoria hotel in New York City was acquired by Chinese Insurance giant Angbang Insurance Group in 2014 for $1.95 billion (£1.57bn). The group is planning to convert some of the hotel’s rooms into luxury condos.
Pirelli.
Last year, the state-owned China National Chemical Corporation parted with a massive $7.6 billion (£6.1bn) to buy the eminent Italian firm, famed for its tires and ‘arty’ calendars. The multi-billion dollar deal is the biggest Chinese acquisition of an Italian company to date.
and so on, the list is very big.
