date:Jan 07, 2014
The WhiteWave Foods Co. is forming a joint venture with the China Mengniu Dairy Company Ltd. As part of the agreement, WhiteWave is acquiring Yashili Zhengzhou, a subsidiary of Mengniu. Yashilis primary asset is a manufacturing plant that will be used to process products under the joint venture.
WhiteWave will pay $85 million for Yashili and, under terms of the agreement with Mengniu, will own a 49% stake in the joint venture.
Mengniu is the ideal partner for WhiteWave as it is a leading dairy