However, some four years down the track, Westland Milk - under Yili's ownership - has gone from strength to strength.
Not only is the company paying its farmers a 10c premium above Fonterra's payout, but last year it also surpassed $1 billion in annual revenue for the first time - making a profit of $39 million, with West Coast farmers receiving a record $9.40/kgMS for their milk in 2022.
Now the company is going to invest $70 million to expand its manufacturing of dairy protein lactoferrin.
The Hound reckons it looks like O'Connor has added to his long list of wrong calls when it comes to the NZ ag sector!
