BEIJING Salion Foods Co., a Chinese manufacturer of condiments and seasonings, is seeking a buyer in a deal that could fetch about US$300 million to US$400 million, Bloomberg News quoted sources with knowledge of the matter as saying yesterday.

The owner of the closely held sauce maker is working with an adviser on the potential sale, said the report. First-round bids for the business are due as soon as this month, the report said.

Deliberations for the sale are ongoing, and the owner could decide to keep the business, said the sources.

Founded in 2000, Salion develops and manufactures condiments and seasonings from natural extracts. The Beijing-based firm currently makes more than a hundred different products, including blueberry powder, chicken essence and barbecue sauce, and sells in more than 30 countries such as Japan, South Korea, Singapore and Russia, according to its website.

Any deal would add to the US$9.2 billion of announced food-related acquisitions involving Chinese companies over the last 12 months, data compiled by Bloomberg show.

PepsiCo Inc., announced last February that it had agreed to buy Chinese snack maker Hangzhou Haomusi Food Co., also known as Be & Cheery, for US$705 million. The deal was completed in June.(SD-Agencies)