CHINA’S BEINGMATE BABY & CHILD FOOD CO LTD WILL SET UP AUSTRALIAN TRADING UNIT TO TAKE OVER FONTERRA PLANT
May 1st, 2017
China’s pre-packaged food and dairy products wholesale company Beingmate Baby and Child Food has announced the establishment of an Australian trading unit named Guangdasheng (Australia) Pty Ltd to boost its raw material supplies.
According to a regulatory filing from the company, Beingmate wants Guangdasheng to acquire 51% of New Zealand-based Fonterra’s Darnum plant, in Victoria, Australia. The two companies would then run this plant as a joint venture named UJV.
Beingmate’s commitments are largely operational – its investment in Guangdasheng will ...
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