View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
January 8, 2020

China’s Mengniu Dairy invests in owner of Australia’s Brownes Dairy

Mengniu Dairy has made an investment in a fellow Chinese group that owns a prominent business in Australia.

By Dean Best

Mengniu Dairy has made an investment in a fellow Chinese group that owns a prominent business in Australia.

Free Whitepaper
img

Packaging for the future: embracing circularity and reducing costs

Sustainable and recyclable packaging is more in demand than ever, yet the packaging industry is at a crossroads.

While the traditional practices and old ways of doing business are well-established and understood, avoiding the circular economy is not a viable plan for the long term.

However, this circular shift doesn’t have to be a radical overhaul overnight. A combination of small changes can make a big difference. And these changes can result in cost savings.

Siegwerk is an internationally recognised provider of sustainable coatings and inks for the packaging industry. The company has embraced the circular economy and is setting many standards in sustainability in packaging products while working with major brands.

To learn more about the work of Siegwerk in the circular economy, download this document.

by Siegwerk
Enter your details here to receive your free Whitepaper.

Following the announcement of two acquisitions in Australia in 2019, Mengniu has struck a deal to buy 5% of Shanghai Ground Foods Tech Co., a company also known as Ground Food, that owns Perth-based Brownes Dairy.

Shanghai-listed Ground Food said Mengniu had agreed to pay CNY14 (US$2.02) a share for more than 20m shares.

In a stock-exchange filing, Ground Food said the companies had “agreed to actively carry out the development and promotion of various cheese products, and co-build sales channels”.

Ground Food said having Mengniu, one of China’s largest dairy companies, as an investor would “strengthen” its cheese business.

Shanghai-based Ground Food acquired Brownes in late 2017 from Australian private-equity firm Archer Capital as part of a consortium that also had investment firm Changchun Lianxin Investment Consulting Company as a member.

In November, Mengniu agreed a deal to acquire Australia-based Lion Dairy & Drinks for AUD600m (then US$407.5m), pending approval from Australia’s competition watchdog and the country’s board that oversees foreign investment.

The announcement came a week after Australia’s overseas investment regulator gave the green light to Mengniu’s acquisition of infant-formula maker Bellamy’s Australia.

Related Companies

Free Whitepaper
img

Packaging for the future: embracing circularity and reducing costs

Sustainable and recyclable packaging is more in demand than ever, yet the packaging industry is at a crossroads.

While the traditional practices and old ways of doing business are well-established and understood, avoiding the circular economy is not a viable plan for the long term.

However, this circular shift doesn’t have to be a radical overhaul overnight. A combination of small changes can make a big difference. And these changes can result in cost savings.

Siegwerk is an internationally recognised provider of sustainable coatings and inks for the packaging industry. The company has embraced the circular economy and is setting many standards in sustainability in packaging products while working with major brands.

To learn more about the work of Siegwerk in the circular economy, download this document.

by Siegwerk
Enter your details here to receive your free Whitepaper.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food