fbpx
Print this page
Thursday, 13 June 2019 12:55

Danone lifts stake in Pokeno plant

Written by  Pam Tipa
Yashili’s Pokeno plant. Yashili’s Pokeno plant.

Danone has been cleared by the Overseas Investment Office (OIO) to take an indirect shareholding of up to 65% in Yashili New Zealand.

Danone currently has an indirect shareholding of about 30% in Yashili NZ.

The application was made by Danone Asia Pacific which is a wholly owned indirect subsidiary of global food and beverage company Danone SA. The French listed company has a 44% US public shareholding.

Yashili NZ operates a dairy production plant in Pokeno, Waikato. The OIO says the land is not considered sensitive under the Overseas Investment Act.

“The applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character,” the OIO says in its decision.

“The applicant has also demonstrated financial commitment to the investment.”

Yashili NZ Dairy, a joint venture between Yashili and Mengnui established in 2012, has $220 million invested in its dairy plant in Pokeno. It has capacity to produce 52,000 tonnes a year of infant formula.

More like this

Taste trickery?

The world's fourth largest dairy company Danone is spending more money to spruce up its vegan dairy offerings in a bid to boost sales.

Shareholder revolt

ONE OF the world’s largest dairy companies is facing a minor shareholder revolt.

NZ’s first carbon neutral milk plant

French global food company Danone says it will spend NZ$40 million on its Nutricia spray drying plant at Balclutha to achieve net carbon neutrality there by 2021.

National

Dairy tops organic exports

Dairy has been named as New Zealand’s largest organic sector with exports of $153.8 million, up 55% from 2017.

Machinery & Products

Gongs for John Deere

The tractor of the Year 2022 Awards, held at the recent EIMA show in Bologna, handed out a brace of…

Digital pre-start safety checks

According to numbers published by ACC, more than 60 farm-related injuries are reported every day, leaving much room for improvement.

JV for Bucket Test App

Irrigation NZ and global farm management company CropX have established a joint venture agreement for the Bucket Test app.