#文章首发挑战赛#
Text: Xiao Peng's brilliant notes
Editor|Xiao Peng's brilliant notes
[Preface]
Approaching the end of the year, I believe that many people began to miss the time of the previous New Year, remember very clearly, when I was a child to visit other people's homes for the New Year, adults like to grab a handful of candy and stuff it into the hands of children.
In my memory, the most popular candy for children at that time was not even chocolate, but those toffee wrapped in white wrapper.
Compared with the sweet and greasy taste of chocolate, and the slightly bitter taste, the sweeter toffee was obviously more in line with the taste of children at that time.
It's a pity that with the passage of time and the change of people's tastes, this kind of thing has become more and more out of people's sight, after all, now everyone can choose more candies, and the flavor of toffee is still a little monotonous.
Speaking of those well-known toffee brands, I believe that there will be a place for the golden monkey in everyone's hearts, after all, this brand was thunderous at that time.
However, today's golden monkey has fallen from a well-known toffee brand to a point where no one cares about it now, what happened in the middle?
【Acquisition Turmoil】
In 2012, the Hershey Group from the United States approached Zhao Qisan, the founder of the Golden Monkey, and said that he wanted to buy the Golden Monkey, which had already begun to decline at that time.
The reason why Hershey Group found the golden monkey is that although the golden monkey has begun to decline, compared with those unknown brands, the golden monkey still has a certain reputation in China.
It just so happened that Zhao Qisan at that time had also been troubled by not finding a way out for the golden monkey, and was unable to lead the golden monkey group to become bigger and stronger in China, resulting in a heavy blow.
Hershey's Group is very optimistic about China's candy market, hoping to open up China's candy market through the brand reputation accumulated by Golden Monkey over the years.
So Hershey Group sent someone to find Zhao Qisan and expressed to the outside world that it was willing to spend 3.5 billion yuan to acquire the Golden Monkey Group.
This news caused an uproar at the time, and many Chinese people said that they have always been very supportive of the golden monkey and regarded it as their childhood memories, so they could not accept such domestic products being acquired by foreign groups.
However, this opposition did not have any impact on Zhao Qisan and the Hershey Group, on the one hand, Zhao Qisan felt that the golden monkey should find a way to survive rather than slowly dying out in his own hands.
The Hershey Group feels that today's golden monkeys not only can't find the direction of development, but also 500 million of the 3.5 billion are used to repay loans to the golden monkeys, which should be regarded as the "life-saving benefactor" of the golden monkeys.
After talking for nearly a year, because the revenue of the golden monkey is getting worse and worse, the Hershey Group finally acquired 80% of the shares of the golden monkey for the first time in 2014 for the first time, and only spent 2.4168 billion yuan to acquire 80% of the shares of the golden monkey, and.
At the same time, when it comes to acquiring the remaining 20% of the shares, it will cost less money, and it will only cost less than 300 million yuan to acquire all the remaining shares.
It stands to reason that after this, Zhao Qisan should be happy with the money earned from selling the golden monkey, or looking for a new direction of development.
But only three years later, someone got the news that the golden monkey, which had been acquired by Hershey for 2.7 billion in cash and 500 million in debt, had been sold again.
And it was bought by a company from Henan, China, which was the same as the golden monkey in the past, and only spent 270 million yuan.
This immediately set off an uproar, and people wanted to know what happened to the golden monkey in the hands of the Hershey Group in the past three years, so that it "depreciated" from the original value of 3 billion to more than 200 million.
【National Brand】
Many people don't actually know that the golden monkey did not start out in the candy business, and even in the earliest days, he was a company that did electrical appliances.
And his founder Zhao Qisan is also a very interesting character, unlike most entrepreneurs, Zhao Qisan's academic Xi grades are not good, and it can even be said that he is very poor.
Because he was born with the material to learn Xi, even to the point where he would get dizzy when he read a book, so after finishing middle school, Zhao Qisan chose to work despite the opposition of his family.
When he joined the work, Zhao Qisan entered an electrical repair shop by chance and became a repairman here.
But because he wasn't born to be a person who could calm down and do one thing, he couldn't work there all the time and run around whenever he had free time.
Although he couldn't calm down to be a repairman, he had already participated in the work after all, so when he was running around, Zhao Qisan was not idle, but found a lot of orders for the factory.
And this behavior also made the leaders of the factory discover Zhao Qisan's talent and began to make him a salesman, and also worked part-time in some management jobs.
However, this is only a small repair shop after all, although Zhao Qisan worked very hard to find orders for the factory, but on the one hand, there were generally fewer electrical appliances at that time, and everyone was more inclined to repair themselves, so soon the factory was on the verge of closure, and Zhao Qisan also became the new director of the factory.
Although for Zhao Qisan, who is only 31 years old, becoming a factory director at this age is undoubtedly a very bragging rights, but looking at the millions of debts on the books and more than 30 colleagues waiting for salaries, Zhao Qisan is not happy at all.
But even so, the days have to continue to move forward, it happened that the reform and opening up had just begun, and Zhao Qisan chose to go to Shanghai to investigate the situation in order to revitalize the factory.
After coming to Shanghai for inspection, Zhao Qisan found that because China's economy was not particularly developed at that time, the food business was undoubtedly a very good choice for the factory at that time, not only the technical content was not very high, but also the industry that everyone needed.
Facts have also proved that Zhao Qisan's view is not wrong, although the transformation itself will generate a large amount of debt, but after the transformation, the financial situation of the factory is obviously getting better and better.
In 1991, the Shenqiu Food General Factory, which had successfully transformed, encountered a problem again, that is, it has just passed the period of reform and opening up, and if it wants to continue to develop, the food factory must have a specialty, rather than doing everything as before.
So in order to solve this problem, Zhao Qisan went to Shanghai again to participate in a food industry exhibition held in Shanghai.
At this meeting, Zhao Qisan noticed that the White Rabbit Milk Candy, which had swept the country at that time, bought the technology and the entire production line from the White Rabbit, and was ready to take Shenqiu Food Factory to enter the candy industry.
After that, everyone also knows, because the year of the launch was the Year of the Monkey, so the golden monkey milk candy was born, and with the control of raw materials, it went to the next level in the melamine incident and became a national brand.
【Corporate Crisis】
After all, although the toffee is delicious, there are many types of candy, which leads to the development of the golden monkey specializing in toffee, although it has also developed in other industries.
However, because there was no professional knowledge in this area, and the domestic candy industry was also very "involuted" at that time, there was no product to sell.
And because Zhao Qisan didn't go to much school, he didn't know anything about management, which led to not establishing a good management model when the company was developing, which laid the root cause.
Therefore, the development of the golden monkey was not only restricted, but even maintaining its own business became a problem, and it could only choose to sell the brand of the golden monkey after Hershey's came to the door.
【Return to China】
After the acquisition of the Golden Monkey, the first thing Hershey did at the Golden Monkey was to prefer the original management model here and replace it with a more reasonable set of plans, but this method had some "side effects".
Because there are few personnel changes in the original Golden Monkey, this sudden reform has caused the employees of the Golden Monkey to panic and worry that they will become laid-off employees, which directly affects the quality of the product.
And although the Golden Monkey has experienced a decline in performance before, after the news of Hershey's acquisition of the Golden Monkey, it still has a huge impact on the brand reputation of the Golden Monkey.
Eventually, Hershey Group found that its business in many places was profitable, but in China it was a "loss-making business", so it chose to sell the golden monkey to Henan Yuxiang Group at a low price.
The reason why it was finally sold at a low price is, on the one hand, because for the Hershey Group, the golden monkey is no longer a sales department, but has become a burden to them.
On the other hand, during the period when the golden monkey was acquired by Hershey, its reputation was not as good as before due to various reasons, and it even owed employees wages and couldn't sell it at a high price.
In fact, the reason why the golden monkey has fallen from a national brand to what it is today is not only due to Zhao Qisan's own limitations, but also related to the fact that they did not choose self-developed products from the beginning.
So what do you think about the development process of the golden snub-nosed monkey over the years, welcome to discuss it in the comment area.
Links to previous issues
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Why do newspapers continue to be printed when no one reads them, and to whom are they sold?
References:
Groom Finance ———— "Hershey's Acquisition of 80% Stake in Shanghai Golden Monkey Milk Candy"
China News Network———— "Golden Emperor Changed Hands and Golden Snub-nosed Monkey Was Acquired by Foreign Capital, Foreign Candy Accelerates Market Seize in China"
China Business Network ———— "Hershey's acquisition of the golden snub-nosed monkey for three years is now "indigestion" and the contradictions between the two sides have intensified"