BEINGMATE BUYS CHINESE DAIRY COMPANY
April 21st, 2015
Hangzhou, China-based infant formula manufacturer Beingmate is to buy 65% of stocks in the Meilijian Group’s subsidiary in Dunhua, Jilin province, northeast China. According to an announcement, the deal will costs about Chinese Yuan Renminbi CNY117 million (USD18.7 million). The Meilijian Group, also based in Hangzhou, has its own dairy farms, and manufactures infant formula as well as other dairy products, including milk and condensed milk. In its statement, Beingmate said the deal ensures the company will secure a “long-term stable supply of high-quality ...
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