FDBusiness.com

Chinese Group Takes 20% Stake in French Dairy Business

 Breaking News
  • HKScan Strengthens its Meals Offering With Investment in Estonia HKScan, the leading Nordic food company, plans to invest in its Rakvere unit in Estonia. The €8 million investment will go towards modernising the unit’s frying department, including the expansion of the building and the installation of new cooking and packaging lines enabling implementation of new technologies and packaging solutions. Construction is to commence in [...]...
  • Food and Drink is at the Heart of the UK’s Largest Packaging Show Packaging Innovations, Empack and Label&Print returns to Birmingham’s NEC on 28 February-1 March 2018, and is set to be the most innovative show to date. With over 290 exhibitors already signed up, the UK’s largest annual event for the entire packaging supply chain will feature the latest industry innovations and technologies, alongside a major free-to-attend [...]...
  • AGRO Merchants Group Acquires Grocontinental AGRO Merchants Group, a global leader in cold storage and logistics solutions, announced today the acquisition of UK-based Grocontinental Limited. This transaction reinforces AGRO’s position as the leading cold storage and logistics provider in the United Kingdom and Ireland, deepens its commodity expertise, and substantially enhances its value-added service offerings for customers. David Grocott and Linda Grocott, third generation owners of [...]...
  • Trade Fair and More – The Event and Congress Programme For Anuga FoodTec 2018 Resource efficiency will be the primary focus of Anuga FoodTec 2018, the leading international supplier fair for the food and beverage industry, which will be held in Cologne, Germany from 20 to 23 March 2018. Around 1,700 suppliers from more than 50 countries will be presenting their new products for the production and packing of [...]...
  • TINE to Invest €77 Million in New Jarlsberg Plant in Ireland TINE, Norway’s largest farmer-owned dairy co-operative, is to invest €77 million in a dairy with the capacity to produce 20,000 tonnes of Jarlsberg cheese a year. The goal is to secure and strengthen Jarlsberg sales outside of Norway as export supports are phased out in 2020. This will make export of Jarlsberg from Norway unprofitable. “Jarlsberg [...]...

Chinese Group Takes 20% Stake in French Dairy Business

Chinese Group Takes 20% Stake in French Dairy Business
July 09
09:47 2013

Biostime International Holdings, a supplier of pediatric nutritional and baby care products in China, is acquiring a 20% stake in French dairy group Isigny Sainte Mère for Eur20 million. ISM will use the investment, as well as financing from other sources, to build a new infant formula production and packaging facility, so increasing its total infant formula capacity up to 50,000 tons by 2016. Biostime has agreed to purchase 18,000 tons of finished products per year from ISM.

The co-operation between the two companies began in 2011, when ISM started supplying infant formula made from milk sourced from the Normandy region of France to be distributed by Biostime in the Chinese market.

The new agreement will also strengthen co-operation in the field of research and development between Biostime and ISM, including the new generation of innovative production process technology, innovative nutritional components application in infant formulas and scientific analysis and quality testing technology, in order to ensure continuous quality of Biostime’s infant formulas distributed in the Chinese market.

Luo Fei, chairman and chief executive of Biostime, says: “Looking forward to the future, Biostime needs to secure sufficient and sustainable supply of high quality milk source from Europe and continue to upgrade its infant formula process technology and innovative formulas. Therefore, we are very proud to have the opportunity to participate in ISM’s infant formula capacity extension project through equity investment and financing. We believe this will enable both parties to deepen cooperation while ensuring a long term and stable supply of high quality infant formulas and meet the growing market demand in China.”

ISM processed about 250 million lites of milk and had a turnover of approximately Eur250 million in 2012, with around 42% of output exported. ISM currently employs 708 people, and was the first company to implement the full spray-dry technology in France,

Biostime’s product portfolio includes premium probiotic supplements for children, infant formulas and dried baby food products marketed under the brand name of Biostime, and baby care products marketed under the brand name of BMcare. Biostime has been listed on the main board of The Stock Exchange of Hong Kong since December 2010.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Dutch Organic Trade Fair
  • January 17, 2018Anfas Food Product
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements