Fonterra and its Chinese business partner plan to “unwind” a joint venture they had in Australia. A Fonterra spokesman said it had reached a provisional agreement on key terms to unwind its Darnum joint venture with Beingmate…Full Article: Stuff Limited Dec 2018 Key Point In 2006, Fonterra acquired the Darnum factory in Victoria, Australia. It
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
French baby milk maker Lactalis Groupe’s ongoing recall of thousands of products over fears of salmonella bacteria contamination in China is expected to hurt its brand reputation among Chinese consumers and have a negative impact on its market share in the country, according to industry experts. The French company, one of the world’s largest dairy
Shares in Inner Mongolia Yili Industrial Group Co and China Mengniu Dairy Co have soared to all-time highs as the companies hunt aggressively to build up their milk supply chains through foreign acquisitions. With China’s dairy demand forecast to grow 37 percent to $76 billion in five years－overtaking the United States to become the world’s
A batch of baby milk powder was pulled from Hong Kong shelves on Friday [20 October 2017], after the city’s food safety authorities found 66 per cent less niacin in it than stated on the label…Full Article: South China Morning Post Oct 2017 Key Point In October 2017, Hong Kong’s Centre for Food Safety announced
A notice flapping on the entrance of an infant formula store in northern Beijing reads “discount sale and store for rent.” The retailer is trying to empty its shelves, which are mostly stacked with foreign baby formula cans — especially brands that aren’t registered with China’s Food and Drug Administration (CFDA) — before new safety
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 Key Point In May 2017, Yili Group attempted
Synlait Milk Limited, the New Zealand Exchange NZX-listed milk processor, announced on Wednesday [16 August 2017] a new supply agreement with China’s New Hope Nutritionals for production of their infant formula brands. The agreement secures a threefold increase from current volumes over the five-year period, said a Synlait statement…Full Article: ECNS.cn Aug 2017 Key Point
Feihe International Inc., a top manufacturer of infant formula in China, is building a manufacturing plant valued 300 million Canadian dollars (234 million U.S. dollars) in Kingston, Canada. Leng Youbin, Chairman of Feihe International Inc. told Xinhua on Tuesday [8 August 2017] in Ottawa that Feihe board decided to invest to set up the plant
Fonterra’s Chinese investment partner Beingmate has forecast a hefty loss of $70 million for the first six months of the year and announced a sell-off of dairy farm assets. The company had earlier forecast a profit. Its shares have fallen 10 per cent and been indefinitely suspended from trading, and charges have been made the