Sept 20 (Reuters) - Xiwang Foodstuffs Co Ltd 000639.SZ
* Says it signs agreement to set up JV and SPVs for acquiring 100 percent stake of Canada's health food firm Kerr Investment Holding Corp for $730 million
* Says it plans to raise up to 1.67 billion yuan ($250.40 million) in private placement of shares to fund acquisition
* Says the proceeds will be used for acquiring 80 percent stake of Kerr Investment Holding Corp with partners
Source text in Chinese: company coverage: 000639.SZ
($1 = 6.6693 Chinese yuan renminbi)