Yili, the China-based dairy firm, has purchased Chomthana, Thailand’s largest ice cream firm, for US$6.4m.
Yili – or Internal Mongolia Yili Industrial Group Co to offer it its full identify – mentioned the deal will assist it “collect world vitality”. It added the acquisition of Chomthana will “additional improve Yili’s efficiency and deepen the win-win cooperation of the worldwide dairy business”.
Thailand is the second largest ice cream market in south-east Asia after Indonesia. Yili began promoting its Joyday ice cream model in Indonesia in October.
Soh Chee Yong, president of Chomthana, mentioned: “Via many contacts and talks, we imagine that Yili is a decent firm. Since its creation, Yili has been adhering to the standard perception and has been famend worldwide for its steady internationalisation and innovation.”
Chomthana, established in 1978, is each an ice cream producer and a frozen meals distributor. It sells its merchandise – together with the Cremo ice cream model – domestically and in 13 overseas markets.
Yili has purchased 96.4% of Chomthana by way of its subsidiary Jingang Holdings.
Lately, Yili has accelerated its abroad funding programme. In November 2014, Yill unveiled a manufacturing base in New Zealand to interact in scientific analysis within the dairy business.
In 2017, the second part of the mission was unveiled within the form of a facility used for the processing of milk protein, milk powder and UHT milk.
In August, Yili was mentioned to be eyeing an funding in Pakistan’s Fauji Meals.
Associated Corporations
