date:Nov 27, 2013
tiation. It was not until last year that industry consolidation took off.
According to statistics from Capital IQ, there were 44 IPO/MA deals in the China dairy industry in 2012, compared with 39 deals in the year to end-August 2013. In June 2013, Chinese government said it aimed to reduce the number of domestic milk powder manufacturers to 50 from 127 and nurture 10 large-scale dairy entities with an annual income of over RMB2bn to take over 70% of the market in five years. This move demonstr