Jatenergy also in process of acquiring majority holding in Green Forest

Jatenergy also in process of acquiring majority holding in Green Forest

Australia's Jatenergy, an exporter of infant formula, has secured a deal to open a retail outlet in China dedicated to children's products.

JAT Maternity and Children will open in the Hui Yue Kid's City shopping mall in the next few months and will cater to expectant mothers and children aged up to 12 years. Based in the capital of Henan province, Zhengzhou, the outlet will offer Jatenergy's own products, as well as those from Australian and other international producers.

The Australian exporter recently secured a deal to buy a 51% holding in Melbourne-based milk powder business Golden Koala Group, which has been supplying products to China via the Adeline Group for the past seven years. Golden Koala Infant Formula is made by another local manufacturer, Nutritional Choice Australia, while the share holdings are held by JAT's dedicated milk powder business, Cobbitty County.   

Last week, Jatenergy revealed it plans to purchase a 50% interest in another exporter to China, Green Forest International, whose brands include milk powders such as A2 and Danone's Aptamil, and those will be stocked in the new outlet.  

Jatenergy said in an announcement posted with the Australian Securities Exchange yesterday (29 May) it has secured a three-year, rent-free lease on the outlet in Hui Yue Kid's City, which is owned by Henan Sheng Rung Holding Group under the control of one of the Australian firm's directors, Xipeng Li. 

"This is an unsurpassed opportunity for JAT to build its China presence and generate revenue,'' said Jatenergy director Wilton Yao. "Hui Yue is a landmark shopping development in Zhengzhou, the capital city of Henan province, which is home to around 100 million people."