FrieslandCampina has acquired all remaining shares in Friesland Huishan Dairy (FHD), a joint venture it set up in 2014 with Huishan to sell infant formula in China.
As a result, FHD is now a 100% owned subsidiary of FrieslandCampina. Besides infant formula, FHD produces tea creamers and coffee creamers on behalf of other FrieslandCampina companies. The FHD plant is located near Shenyang in Liaoning Province.
Upon announcement of the joint venture in 2015, the companies said that the collaboration would benefit from each of their production, sales and marketing capabilities.
In the past year, FrieslandCampina has undergone a number of structural adjustments. Last June it announced it would build a 70,000-square-metre distribution centre in the Netherlands, consolidating its activities across four current warehouses in the country. Meanwhile, its Gütersloh plant in Germany is due to close in the second quarter of 2018.
In August, the Dutch dairy cooperative offloaded its fruit juice producer Riedel to Dutch-based firm Standard Investment.
There have been two new additions to the company’s executive board this year, with the appointment of Hein Schumacher as CEO and Jaska de Bakker as CFO.
Source: FoodBev Media
