Chinese dairy group Yili has announced the purchase of Chomantha, the largest domestic ice cream manufacturer in Thailand.
The group said that the purchase will enable it to expand its global footprint, as well as bolster its innovation platform.
"Through many contacts and talks, we believe that Yili is a respectable company," commented Soh Chee Yong, president of Chomthana.
"Since its creation, Yili has been adhering to the quality belief and has been renowned worldwide for its continuous internationalisation and innovation. Under the dream of "let the world share health", Yili products have won the trust of global consumers."
Chomantha operates in both Thailand and 13 foreign markets.
Yili's revenue rose by 12.3% last year, to 68 billion yuan (€8.61 billion).
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.