(Yicai Global) Sept. 18 -- Xiamen Kingdomway Group Co. [SHE:002626] will acquire 14.71 percent stake in a sports nutrition brand investment operator through its wholly-owned subsidiary in the US. The wholly-owned subsidiary Kingdomway America, LLC (KALLC) has invested USD7.5 million to subscribe for 75,000 preferred shares issued by the US firm PSupps Holdings, LLC, an investment platform. Upon completion of the transaction, KALLC will hold a 14.71 percent stake in PSupps, Xiamen Kingdomway Group said in a statement on Sept. 16. 

PSupps is an investment holding platform, which acquired 100 percent equity in sports nutrition brand ProSupps USA LLC (ProSupps) in August 2016. Currently, in addition to holding 100 percent shares of ProSupps, PSupps did not carry out any other business activities, the statement clarified.

ProSupps is a well-known sports nutrition brand in the US, with products aimed at athletes and fitness enthusiasts. However, it has successfully extended to the mass market. The hot-sale products 'Mr. Hyde' series are pre-training products with the world's largest sales and 'MyBar' series are protein bars with the fastest growing sales in the mass market, the statement added.

The share subscription will help promote the company's business development in sports nutritional and lifestyle food products and build a leading sports nutrition brand in China, the company said.