Hong Kong-listed China Huiyuan Juice Group Ltd announced on Thursday that it has reached an agreement to acquire its main raw materials supplier from China Huiyuan Juice Holdings Co Ltd, which is wholly owned by the group's chairman Zhu Xinli, for about 3.9 billion yuan ($636.5 million).

About 1.2 billion yuan will be spent to assume the debt of a subsidiary company of the raw material supplier, according to the agreement.