ORG Packaging Co Ltd, a Chinese food and beverage packaging products company, announced that it planned to acquire a 59.95% stake in French second division club AJ Auxerre for 7 million euros.

It is understood that ORG has reached an agreement with the club’s current majority shareholder—AJAXXL Capital SA owned by the Limido family.

This is another move for ORG to grow its presence in the sports industry. The Chinese company aims to co-operate with clubs in terms of youth training, commercial endorsement and branding campaigns.

Last year, Beijing-based ORG signed a partnership contract with Delaware North Companies to promote the ice hockey team, Boston Bruins, in China. It is also an investor in Sport8, a start-up founded by Huang Jianxiang, the famous sports critic and Wesley Sneijder, a Dutch professional footballer. In addition, ORG has accumulated valuable sports resources by supplying Red Bull and Tsingtao Beer in sports sponsorship.

Source: maligue2.fr

Proofread by Sean O Diobhilin