China's largest dairy company continues to grow

Yili Group, China's largest dairy group, grew $694 million in the first half to $6,3 billion. The presentation of the half-year figures followed shortly after the completion of the acquisition of New Zealand's second largest dairy.

In addition to the increase in worldwide sales, the company's net profit also increased (by $45 million to $505 million). The announcement of the half-year results came after the closing of the take over of Westland Co-Operative Dairy Company Limited, New Zealand's second largest dairy company. "With this acquisition, we can expand our position in the global market," said Jianqiu Zhang, the company's CEO, in a statement.

Keep expanding
Earlier this year, Yili launched a new strategy, in which it writes that it wants to focus on the consumer's need to eat and drink healthier. In addition, it wants to have a clearer presence in the global dairy market. The acquisition of Westland in New Zealand seems to be part of this. The dairy giant has also recently made an acquisition in Thailand, although this was mainly to achieve regional growth.

Yili recently invested $416 million in establishing the Oceania Dairy production facility, one of the largest dairies in the world. In addition, it signed an agreement with Lincoln University to establish its own research and development center.

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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