Sector News

Fonterra Makes Offer For Stake In Beingmate Baby & Child Food

February 12, 2015
Food & Drink
Fonterra Co-Operative Group has submitted a tender offer for a stake of up to 20% in Chinese infant formula manufacturer Beingmate Baby & Child Food Company Ltd.
The company said in a statement it had submitted an offer to the Shenzhen Stock Exchange and expected to know the result of the tender offer on March 18.
No financial details were released.
Last August, Fonterra and Beingmate announced they intended to form a global partnership to help meet China’s growing demand for infant formula.
“The partnership will create a fully integrated global supply chain from the farm gate direct to China’s consumers, using Fonterra’s milk pools and manufacturing sites in New Zealand, Australia and Europe,” Fonterra added in the statement.
By Lucy Craymer 

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