Chinese dairy giant Inner Mongolia Yili Industrial Group Co plans to acquire Murray Goulburn, Australia’s biggest dairy products company, The Australian newspaper reported Wednesday [20 September 2017]. The proposed bidders include Mengniu Dairy and CR Ng Fung, according to the report…Full Article: The Global Times Sept 2017
- In May 2017, Yili Group attempted to acquire Stonyfield (US yogurt producer) from France’s Danone for approximately USD 850 million. Danone ended up selling Stonyfield to their compatriots Lactalis (French dairy company).
- In April 2016, Australia’s Murray Goulburn Co-operative announced that it was parting ways with its managing director due to poor milk powder sales in China.
- In March 2016, Australia’s Murray Goulburn announced plans to construct a AUD 280 million (USD 208 million) infant formula factory in conjunction with USA’s Mead Johnson Nutrition and Indonesia’s Kalbe Nutritionals.
- In 2014, France’s Danone acquired USA’s Stonyfield Farm (producer of yogurts, smoothies, milk and cream).
- In November 2012, CR Ng Fung came under fire for monopolistic price gouging in Hong Kong’s meat market. CR Ng Fung was the only company allowed import live sheep and cattle into Hong Kong. Since June 2012, reportedly increased the wholesale price for fresh beef five times, leading to a large price discrepancy between Hong Kong and neighboring Shenzhen.
- In 2007, Hong Kong permitted two additional companies to import live hogs into the SAR. At the time, only CR Ng Fung was allowed to import live hogs into Hong Kong. The change came about after complaints of high pork prices in Hong Kong.
- Founded in 1999 and headquartered in Hohhot, Inner Mongolia Region, China Mengniu Dairy (HKG:2319) is one of the leading dairy product manufacturers in China, with “MENGNIU” as its core brand. In addition to milk, the company also produces and distributes ice cream, infant formula, yogurt, and cheese.
- Inner Mongolia Yili Group (SHA:600887) traces its roots back to 1956 when it operated as a dairy cooperative in Hohhot, Inner Mongolia Region. In 1993, the company was restructured as Yili Group and began its ice cream operations. Currently, Yili produces milk, milk beverages, sorbet, ice cream, milk powder, milk tea powder, yoghurt, and cheese. Since 2005, the company has been China’s top supplier of milk powder and milk tea powder.
- Founded in 1951 and headquartered in Hong Kong, China Resources Ng Fung, aka CR Ng Fung, is a subsidiary of the state-owned enterprise China Resources (see China Resources Beer (HKG:0291). CR Ng Fung is a major distributor of rice, meat, frozen food, dairy products, food additives, and seafood throughout Hong Kong and mainland China.
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