Japan’s biggest dairy company Meiji announced the purchase of a 25% stake in AustAsia for 28 billion yen (1.84 billion yuan), the most significant in its M & A history.
AustAsia is a Singapore-based dairy company that operates seven pastures in China. This acquisition is seen as a move by Meiji to increase its presence in China’s fresh milk and yogurt sector by securing a stable raw milk source supply.
On April 15, Japanese dairy company Meiji announced the purchase of a 25% stake in AustAsia translating to a 28 billion yen (1.84 billion yuan) in the Singapore-based dairy company that operates pastures in China. The 28 billion yen investment amount is the largest in Meiji’s M & A (mergers and acquisitions) history.
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