Mengniu Dairy gulps down two Australian milk producers
The Chinese giant seeks scale and know-how to meet its country’s growing thirst for the stuff
THIS AUGUST Andrew Cohen, boss of Bellamy’s Organic, an Australian maker of infant formula, enthused to investors about having a brand “that’s loved in China”. So loved, in fact, that a few weeks later Mengniu Dairy, China’s second-biggest producer of milk products, said it wanted to buy Bellamy’s for A$1.5bn ($1bn). On December 5th its shareholders voted in favour of the deal.
This article appeared in the Business section of the print edition under the headline “Cow cash”
Business December 7th 2019
- Saudi Aramco’s IPO is the biggest ever
- SMB Winning pays $15bn for rights to Guinea’s iron mountain
- ArcelorMittal gets its fingers burned in Italy’s Ilva steel mill
- Mengniu Dairy gulps down two Australian milk producers
- Let them eat Christmas cake
- Alphabet turns a Page and a Brin
- The agonising dilemma of Spanish firms in Latin America
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