China’s Mengniu Dairy acquires Australian dairy manufacturer
Mengniu Dairy has acquired 100 per cent of the interest in Australia’s Lion Dairy & Drinks with the assistance of international firm MinterEllison.
Firm: MinterEllison (Mengniu Dairy)
Deal: MinterEllison has advised Mengniu Dairy on a proposed acquisition of Lion Dairy & Drinks.
Value: $600 million.
Key players: The team was led by partners Barbara Mok, Michael Gajic, Bi Chen and Ben Smith. They were supported by partners David Moore, Katrina Groshinski, as well as senior associate Michael Scarf, associates Chanan Ng, Catherine Cai, Stephen Tsui and Anna Madafiglio.
Also assisting were lawyers Kate Reagh and Krish Nadarajah. It is in memory of the late Sydney corporate Simon Cooper.
Deal significance: The deal was in relation to the signing of definitive agreements to acquire 100 per cent interest in Lion Dairy & Drinks.
The target has a leading market in share position for a number of its product categories in Australia, including milk-based beverages, yoghurt, child juice and drinks, ambient juices and drinks. It has extensive manufacturing and cold chain distribution, as well as a presence in international markets.
Mr Gajic said: “This complex transaction was a coordinated effort across the Sydney, Beijing and Hong Kong offices with over 65 team members across all lines of business and a great demonstration of MinterEllison’s seamless execution and cross-border capabilities.”