MOOO: Sovereign Funds Thirst for Dairy
The dairy sector has attracted a significant number of public investors including sovereign wealth funds. Singapore’s GIC Private Limited and Olympus Capital led a group of investors to invest US$ 106 million in China’s Huaxia Dairy Farm Ltd. The Singapore sovereign wealth fund is investing the bulk of the capital at US$ 70 million. Olympus Capital is committing US$ 30 million and smaller shareholders including Beijing-based Grand River Capital are investing US$ 6 million. However, the private equity firm Olympus Capital remains the largest shareholder of Huaxia Dairy Farm Ltd., investing a total of US$ 108 million in the company.
Founded in 2004, Huaxia Dairy Farm Ltd manages three dairy farms outside of Beijing. The company also has a retail presence in China, selling product under the Wondermilk and Wonderyoghurt titles.
In November 2013, Singapore’s Temasek Holdings and Chinese private equity firm Hopu, along with three other investors, participated in a US$ 213 million investment in Yashili International Holdings Ltd. Yashili manufactures pediatric milk formula products and milk formula for pregnant women under the brand names of Yashily and Scient.
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