Mengniu, a leading Chinese dairy firm , has made a bid to acquire Bellamy’s, Australia’s largest organic infant formula producer, for approximately A$1.5 billion ($1.03 billion).
Bellamy’s produces, supplies and markets a range of organic food and infant formula for babies and toddlers, sourcing ingredients from Australian and international suppliers. Bellamy’s products are distributed in Australia, Vietnam, Singapore, Malaysia, New Zealand and China, including Hong Kong.
Commenting on the proposed deal, Bellamy’s CEO Andrew Cohen said: ““Mengniu is a preeminent dairy company in China and an ideal partner for our business. It offers a strong platform for distribution and success in China, and a foundation for growth in the organic dairy and food industry in Australia”.
Mengniu CEO Minfang Lu added: “Bellamy’s is a leading Australian brand with a proud Tasmanian heritage and track record of supplying high quality organic products to Australian mums and dads. This leading organic brand position and Bellamy’s local operation and supply-chain are critical to Mengniu”.