Bakkavor, a leading international manufacturer of freshly prepared foods, has set up a branch in Suzhou's Taicang Hi-tech District, Taicang Daily reported on June 6.

The new subsidiary in Taicang, invested by Bakkavor's Hong Kong branch, will be engaged in the baked foods production. It is expected to reach annual output value of more than 300 million yuan ($44.13 million).

Bakkavor was founded in Iceland in 1986 and then moved its headquarter to London, the United Kingdom. The company soon became UK's largest fresh food company. In addition to Iceland and the UK, it has 62 factories in 10 countries and regions worldwide. Its global output reached $2.5 billion in 2016.

The Hong Kong company has been one of the largest companies in the production of fresh food and largest fresh vegetable supplier for the fast food outlets under Yum Brands such as KFC and Pizza Hut.