An affiliate of Feihe International Inc, a Chinese maker of dairy products, will acquire Vitamin World Inc out of bankruptcy for about $28 million, after no other bidders submitted offers for the US nutritional supplements seller…Full Article: The Global Times Dec 2017

Key Point

  • In September 2017, New York-based Vitamin World (156 stores) filed for bankruptcy.

ChinaAg Comments

  • In June 2017, construction began on Feihe’s infant formula factory in Cataraqui Estates Business Park in Kingston. The new factory, set to be completed in 2019, will include a wet infant formula and goat milk infant formula production line (total 60,000 MTs annual capacity). Approximately 80% of its output will be exported to China while the remaining 20% will sold in North America.
  • In May 2017, Feihei announced plans to put forth an IPO on the Hong Kong Stock Exchange.
  • In 2016, Feihe Dairy sales totaled CNY 6.8 million yuan (USD 980 million).
  • In December 2016, Feihe International and Ontario’s Kingston City Hall signed an agreement to construct an infant formula factory (incorporated with Canada Royal Milk).
  • In August 2015, the D20 Summit was held in Beijing. The summit included business leaders representing China’s top 20 dairy firms and resulted in the signed of the ‘Beijing Declaration’, an agreement to strengthen self-regulation and revitalize the dairy industry. Feihe International was one of the 20 dairy firms that participated in the summit.
  • In May 2015, the China Food and Drug Administration (CFDA) published its “2014 infant formula milk powder inspection report”, noting that Feihe International had quality issues with some of its milk powder products.
  • In 2013, Feihe International (NYSE:ADY) was delisted from the New York Stock Exchange.
  • Founded in 1962 and headquartered in Beijing, Feihe International is a producer and distributor of infant formula milk powder.

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