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

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.

Danone doubles its NZ production capacity

A $25 million upgrade and expansion of Danone’s Auckland blending and processing plant in late February has doubled its production capacity for finished products.

A tough day for Fonterra

Fonterra Shareholders Council chairman Duncan Coull says today’s arbitration decision on the claims made by Danone has made this a tough day for the co-op.

Angry and frustrated- Wilson

Fonterra chairman John Wilson says as a farmer he is angry and disappointed with today's arbitration decision over the false botulism scare in 2013.

» The RNG Weather Report

Featured

A big future ahead

Age hasn't been a barrier for young vegetable grower of the year Austin Singh Purewal.

 

Sheep and beef doing its bit

No increase in stock numbers in the sheep and beef sector is anticipated as the industry moves towards carbon neutrality, says Beef + Lamb NZ head of nutrition Fiona Windle.

Fonterra lifts milk price

Good news for Fonterra farmers – the co-op is increasing its 2019-20 forecast farmgate milk price by 30c/kgMS.