AUCKLAND, NEW ZEALAND: The a2 Milk Company (a2MC) has received the consent of New Zealand Overseas Investment Office (OIO) to acquire a 75% interest in Mataura Valley Milk (MVM), a dairy nutrition business, located in Southland, New Zealand.
Completion of the transaction is now to set to occur with effect from the end of July.
As previously advised, the proposed acquisition will provide the opportunity for a2MC to participate in nutritional products manufacturing, provides supplier and geographic diversification, and strengthens our relationship with key partners in China.
A key feature of a2MC’s proposed investment in MVM is that MVM’s current majority shareholder, China Animal Husbandry Group (CAHG), will retain a 25% interest in MVM alongside a2MC. CAHG is a wholly owned subsidiary of China National Agriculture Development Group Co., Ltd, which is also the parent company of a2MC’s strategic logistics and distribution partner in China, CSFA Holdings Shanghai, Co., Ltd. (China State Farm).