‘Win-win’ ice cream: China’s Yili buys Thailand’s largest domestic player Chomthana
China state-owned dairy giant Yili Group has bought over Chomthana, the largest local ice cream company in Thailand.
Although neither company revealed specific financial details in the official press release on the acquisition, an earlier investment statement by Yili mentioned plans to purchase 96.46% of Chomthana for an initial estimate of US$ 80.56mn.
Chomthana is the largest domestic ice cream and frozen foods enterprise in Thailand, with strong footholds both locally and in 13 other markets worldwide.
Yili CEO Zhang Jianqiu spoke positively of the acquisition, saying that: "In the process of promoting internationalisation, Yili always adheres to the concept of 'openness, cooperation and win-win', and devotes to the dream of 'making the world healthy'."
Mengniu opens first SEA production base in Indonesia, aims to be No. 1 yogurt brand in three to five years
Chinese dairy giant Mengniu has opened a manufacturing plant in Cikarang, Indonesia dedicated to the production of its flagship YoyiC line of yogurt products.
Starting from this month, the YoyiC products will be sold in 12,000 stores in major cities in Indonesia.
This is its first South East Asian (SEA) production base and it aims to be the number one yogurt brand in Indonesia in three to five years, %, the South China Morning Post quoted Lu Mingfang, CEO of Mengniu.
This is despite the fact that yogurt commands a small consumer market in Indonesia, achieving only 17% of market penetration rate.
Calbee introduces potato chips for 'fashionable young ladies' in Japan
Japanese snack food maker Calbee has introduced Potato Chips Lovely Cheese, designed to appeal to women in their 20s and 30s who enjoy sharing pics of whatever they are eating on social media.
According to the producer that is renowned for introducing exotic treats – like matcha tea chocolate potato chips and Potato Chips Tom Yum Kung Taste – the new Lovely Cheese flavor is purportedly a perfect pairing with sparkling wine commonly popped open by fashionable young ladies for Christmas parties in Japan.
The new potato chips impart a double cheesy dose – from a mixture of rich gouda and a milder cream cheese – with a touch of blueberry to add aroma and sweetness.
I-Mei Foods to purchase 150 tonnes of cabbage to help Taiwanese farmers
Taiwanese food giant I-Mei Foods will purchase 150 tonnes of cabbage amidst the country’s cabbage glut in order to help local farmers and stabilise market prices.
I-Mei Foods announced via a statement on its Facebook page that it would be purchasing the cabbage at NT$12.5 per kilogramme, and invited all farmers and agricultural societies who needed its help to get in touch.
“The farmers are in a hopeless situation, the [agricultural] officers are being accused of incompetence and the people are feeling at a loss about the situation,” it wrote.
“I-Mei is willing to help protect the farmers, and stop the continued drop of cabbage prices so that it can stabilise again [and farmers will no longer incur losses].”