FrieslandCampina Takes Full Control Of Huishan Dairy
Dutch dairy company FrieslandCampina has announced that it obtained full ownership of its Chinese subsidiary Friesland Huishan Dairy (FHD).
FrieslandCampina has now acquired all remaining shares in the business, which was set up as a joint venture in April 2015.
Financial terms of the transaction were not disclosed.
FHD produces and markets locally-sourced infant milk formula under the Dutch Lady brand in China.
In the plant, located near Shenyang, in Liaoning Province, the unit also produces tea creamers and coffee creamers for other FrieslandCampina companies.
Last September, FrieslandCampina reported that group revenue increased by 10.7% to €6.1 billion in the first half of the year.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.