Yili Group acquires Thailand's largest ice cream company

by:Hommy     2020-04-04
Data show that Yili Group's operating income in 2017 exceeded RMB 68 billion, a year-on-year increase of 12.29%. Chinese large-scale dairy company Inner Mongolia Yili Industrial Group Co., Ltd. (hereinafter referred to as 'Yili Group') announced on the 29th that it officially acquired Thailand's largest ice cream company Chomthana, and held a signing ceremony in Bangkok, Thailand that day. According to the announcement, Yili's wholly-owned subsidiary Hong Kong Golden Port Commercial Holdings Co., Ltd. intends to acquire 96.46% of the shares in THE CHOMTHANA COMPANY LIMITED of Thailand from four companies and become the new controlling shareholder of the acquisition target. This is the second time that Yili Group and the Southeast Asian market have joined hands after launching ice cream products in the Indonesian market last month. Zhang Jianqiu, the executive president of Yili Group, said at the signing ceremony that Yili has always adhered to the concept of 'openness, cooperation and win-win' in the process of promoting internationalization, and is committed to the dream of 'let the world share health'. Chomthana President Soh Chee Yong said that after many contacts and talks, we believe that Yili is a respectable company. Yili has always adhered to the corporate tenet of 'Erie is quality' and has been known worldwide for its continuous internationalization and innovation. According to reports, Chomthana has more than 37 years of industry experience, and its products cover a wide range of fields such as ice cream, bread and desserts, and are well received by consumers in Thailand and more than 10 foreign markets. According to the information, Thailand The CHOMTHANA COMPANY LIMITED was established in 1978, which is mainly engaged in ice cream production and refrigerated frozen food transportation business. As of June 30, 2018, the company had total assets of US $ 34.59 million, net assets of US $ 21.97 million, operating income of US $ 18.24 million, net profit of US $ 900,000, and non-audited net profit of US $ 940,000 (unaudited). The company had 2017 revenue of US $ 33.38 million, net profit of US $ 3.23 million, and net assets of US $ 20.39 million. Yili stated in the announcement that the target company has a certain production scale, a relatively complete industrial chain layout, and ample cold chain storage facilities. Its own cold chain logistics system basically covers the entire territory of Thailand, which helps companies to enter the Thai market. In addition, Thailand is the second largest ice cream market in Southeast Asia after Indonesia. In addition to the local business in Thailand, the target company exports ice cream to 13 neighboring countries at the same time. This transaction helps the company to develop the Southeast Asian market. With the advantage of Thailand's geographical advantage in Southeast Asia, it can radiate the markets of neighboring countries. Southeast Asia has become an intensified region for Yili's internationalization this year. In October this year, Yili launched 11 Joyday ice creams in Indonesia. At that time, Yili stated that at the end of this year, Yili will cover more than 20 cities in Indonesia and gradually expand to other Southeast Asian countries. More new products will also be launched one after another.
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