Date
17 August 2017

Biostime to acquire Changsha baby formula maker, statement says

Biostime International Holdings Ltd. (01112.HK) announced that it plans to acquire the entire equity interest in mainland baby formula producer Changsha Yingke Nutrition Products Co. Ltd. for 350 million yuan (US$57.74 million), according to an emailed statement Tuesday. The acquisition is expected to boost Biostime’s annual baby formula production capacity by 30,000 metric tons to 50,000 metric tons for new high-end milk powder series. The series will be launched to target the upper-end consumers in China’s fourth- and fifth-tier cities, it said.

– Contact HKEJ at [email protected]

MY/JP/RC

 

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