Inner Mongolia Natural Dairy Co., Ltd., a subsidiary of China Youran Dairy Group Ltd., has agreed to purchase Fonterra’s two farming-hubs in Ying and Yutian for NZ$513 million.
Additionally, Fonterra is selling 85% interest in its Hangu farm to Beijing Sanyuan Venture Capital Co., Ltd., for NZ$42 million. Before the purchase, Sunyuan owned a 15% minority share in the farm.
Keith Poulsen’s jaw dropped when farmers showed him images on their cellphones at the World Dairy Expo in Wisconsin in October.
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