Infant formula giant Yashili International Holdings revealed Tuesday it has received approval to become the latest Chinese player to invest in the New Zealand dairy industry. Company chairman Zhang Lidian announced in a statement to the Hong Kong stock market that New Zealand’s Overseas Investment Office (OIO), which considers all foreign investments valued at more than 100 million NZ dollars ($83.96 million), had granted consent to Yashili’s plans to build a milk processing plant…Full-text article: China Daily Apr 2013
- Yashili intends to construct a dairy plant (NZ$ 230 million or US$194 million) just south of Auckland, North Island.
- Yashili is not the first Chinese dairy company to invest in New Zealand. In 2010, Bright Dairy, a Shanghai-based subsidiary of Bright Food Group, acquired a 51% stake in Synlait Milk. In 2012, Shanghai Pengxin won a legal battle to purchase 16 North Island dairy farms.