China#s Leading Dairy Company Yili Buys Thailand#s Largest Local Ice Cream Enterprise, Accelerating Its Internationalization

General Press Releases Monday December 3, 2018 09:55
BANGKOK, Thailand--3 Dec--Xinhua-AsiaNet/InfoQuest
Yili Group held a grand signing ceremony in Bangkok, Thailand on November 29th to officially buy Chomthana, which is the largest domestic ice cream company in Thailand.

In 2018, the internationalization process of Yili is frequent. First, it upgraded the European Innovation Center in cooperation with Wageningen University in the Global Dairy Mount Everest. Then its products were listed on the Indonesia market to share the Yili quality with Indonesian consumers. On the 28th, it was announced that overseas acquisitions would make Thailand's largest domestic ice cream company into their charge.

Pan Gang, president of Yili Group, once said, "Enterprises should gather global energy, insist on continuous innovation, and use global high-quality resources to serve consumers better."

Acquiring Chomthana is an important measure for Yili to gather global energy and deepen mutual benefit and achieve win-win situation. Zhang Jianqiu, CEO of Yili Group said, "In the process of promoting internationalization, Yili always adheres to the concept of 'openness, cooperation and win-win', and devotes to the dream of 'making the world healthy'."

With the deepening of global economic integration, Yili accelerates the pace of internationalization with the help of "the belt and road". From the "global networking" to build a "global wisdom chain", Yili continues to promote the global dairy industry with complement resources, innovative synergy and mutual benefits.

Soh Chee Yong, president of Chomthana, said, "Through many contacts and talks, we believe that Yili is a respectable company. Since its creation, Yili has been adhering to the quality belief and has been renowned worldwide for its continuous internationalization and innovation. Under the dream of "let the world share health", Yili products have won the trust of global consumers. Yili is a truly concerted enterprise with consumers."

It is understood that Chomthana is the largest domestic ice cream and frozen food distributor in Thailand. It has more than 37 years of experience and its products cover many fields such as ice cream, bread and dessert. It performs well in Thailand's domestic market and 13 foreign markets, so it is deeply loved by consumers. After signing between Yili and Chomthana, Yili will fully promote complementary advantages between China and Thailand, give full play to the strategic synergy effect, and make the dream of "let the world share health" go further.

Under the trend of economic globalization, China's private enterprises will have good opportunities for development. China's series of initiatives to promote global cooperation have also created convenient conditions for Chinese private enterprises to "go out" and carry out international cooperation. Yili seizes the opportunity, actively carries out the international layout, and has achieved good results. According to the data, Yili's revenue growth rate remained above double digits from 2008 to 2015, and had exceeded 68 billion yuan by 2017, ranking the first in the industry steadily with the year-on-year growth of 12.29%. The return on net assets has remained above 20% for many years, ranking the first in the world's dairy industry. The acquisition of Chomthan will further enhance Yili's performance and deepen the win-win cooperation of the global dairy industry.

Chen Yu, a senior dairy analyst, believes that as a leading dairy company in Asia, Yili has continuously expanded overseas channels and led the Chinese dairy industry to go overseas with the help of "the belt and road" and to accelerate the flow of high-quality resources in the global industrial chain. Yili's internationalization will have a positive impact on the development of global dairy industry. Yili's strategic measure is an important driving force for the development of China's dairy industry and will also be an important new kinetic energy in promoting the development of global dairy industry.

Source: Yili Group
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