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China’s Mengniu Dairy Buys Australia’s Lion Dairy From Kirin

November 25, 2019: 12:00 AM EST
Two weeks after Australian authorities conditionally approved Mengniu Dairy’s (China) acquisition of infant formula producer Bellamy, the company has agreed to buy Australian Lion Dairy & Drinks from Kirin Holdings for $407 million. The deal includes all white milk, milk-based beverages, yogurt, juice and water ice brands and assets, as well as Dairy & Drinks’ licensing agreement for the Yoplait brand. Mengniu will own Lion’s beverage unit’s international business and its share of the joint ventures with Vitasoy Australia Products and Capitol Chilled Foods Australia. The deal does not include Lion’s alcohol businesses in Australia and New Zealand, nor its Lion Little World Beverages firm.[Image Credit: © China Mengniu Dairy Company Limited]
Emma Upshall, "Mengniu makes $407m offer to acquire Lion Dairy & Drinks", FoodBev Media , November 25, 2019, © FoodBev Media Ltd
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