Yili moves into Thai market with ice cream company acquisition
It is part of the company’s global expansion: In 2018, it upgraded the European Innovation Center in cooperation with Wageningen University, then its products were listed on the Indonesia market.
Zhang Jianqiu, CEO of Yili Group said, "In the process of promoting internationalization, Yili always adheres to the concept of 'openness, cooperation and win-win', and devotes to the dream of 'making the world healthy'."
Chomthana is the largest domestic ice cream and frozen food distributor in Thailand. It has more than 37 years of experience and its products include ice cream, bread and desserts.
It also operates in 13 foreign markets.
Soh Chee Yong, president of Chomthana, said, "Through many contacts and talks, we believe that Yili is a respectable company. Since its creation, Yili has been adhering to the ‘quality’ belief and has been renowned worldwide for its continuous internationalization and innovation. Under the dream of "let the world share health", Yili products have won the trust of global consumers. Yili is a truly concerted enterprise with consumers."
Chen Yu, a senior dairy analyst, believes that as a leading dairy company in Asia, Yili’s international expansion is leading the rest of the Chinese dairy industry and encouraging other companies to look beyond the Chinese market.