Yili completes acquisition of New Zealand's second-largest dairy co-operative
Hong Kong Jin Gang Trade Holding Limited, a wholly-owned subsidiary of China's dairy giant Inner Mongolia Yili Industrial Group, on August 1 successfully completed the acquisition of Westland Co-operative Dairy Company Limited (Westland), New Zealand's second-largest dairy co-operative.
The transaction ceremony between Yili Group and Westland Milk Products was held at Auckland Museum on August 1.
The inclusion of Westland into Yili Group is expected to level up the company's global integration capacity, providing premium quality products to global customers to meet diverse needs. It will also push further the concept of a "Global Health Ecosystem" put forward by Yili's chairman Pan Gang to restructure the dairy industry landscape with the theme of "World Integrally Sharing Health".
Zhang Jianqiu, CEO of Yili Group, noted at the transaction ceremony that the acquisition combines quality, technology, resources and market and is an essential milestone for Yili "Dairy Silk Road", building a "Dairy bridge" across the Pacific Ocean and restructuring the dairy industry landscape.
During the acquisition, Yili showed its excellent corporate image and the strong potential to lead Westland to a brighter future, by winning the votes of 93.79 percent of the 96-percent Westland dairy farmer shareholders participating in the voting on the Yili acquisition offer, as well as the approval of related authorities in New Zealand.
In recent years, Yili has taken the initiative to deepen global industrial cooperation, building supportive and comprehensive resources, innovation and market systems in regions where the dairy industry is highly-developed such as America, Oceania and Asia.
In America, Yili leads the implementation of the "Sino-US Food Wisdom Valley" together with first-class universities and scientific research institutions of the United States.
In Oceania, Yili has invested 3 billion yuan to date in building the Yili Oceania Production Base, one of the largest integrated dairy bases around the world.
In Southeast Asia, Yili acquired the Chomthana Company, the most significant ice cream and frozen food distribution company in Thailand in November 2018, and successfully raised the company's production capacity by over 30% within one month following the acquisition.
The continuous accumulation of international achievements has improved the influence of Yili in the global dairy industry and provided more successful examples for Chinese firms to go global.
Source: Xinhua Silk Road Information Service