Japanese Food Co. Takes $254M Stake In Chinese Dairy Farms

Law360 (April 15, 2020, 2:27 PM EDT) -- Japanese food and pharmaceuticals group Meiji said Wednesday it is buying a minority stake worth $254.4 million (about 28 billion yen) in a company that operates dairy farms in China, adding it also plans to expand production there as part of its long-term growth strategy.

Meiji Co. Ltd. said the deal for a 25% stake in AustAsia Investment Holdings Pte Ltd. partly comes from its focus on China and other countries for growing its international business. The investment is also a result of increased consumer demand for its dairy products and, in particular, its chilled milk, Meiji said.

AustAsia is wholly owned by...

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