NZ: China’s Natural Dairy invests in New Zealand
Chinese holding firm Natural Dairy Holdings has entered into an agreement to acquire two dairy farms from failed New Zealand dairy group Crafar Farms.
The acquisition will be completed through local subsidiary UBNZ Assets Holdings.
The deal will see Natural Dairy take control of farm land, livestock and milk powder production plants in the country and is valued at NZ$1.5bn (US$1.05bn).
“The acquisition constitutes a very substantial acquisition for the company,” Natural Dairy revealed in a statement to the Hong Kong stock exchange.
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Danone eyes efficiency, agility with new structure
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone sales dampened by Europe, China