The target has a leading market share position for a number of its product categories within Australia, including milk based beverages, yoghurt, white milk, chilled juice and drinks, ambient juice and drinks. It has extensive manufacturing and cold chain distribution capabilities across Australia, as well as a presence in international markets including South East Asia and China (currently, primarily through yoghurt products).

Mengniu Dairy is a market leading dairy company principally engaged in the manufacture and distribution of quality dairy products including liquid milk, ice-cream, milk formula and other dairy products and is based in China.

Lion Dairy and Drinks’ portfolio of iconic household dairy brands with strong Australian heritage is highly attractive to consumers in the One-Belt-One-Road markets, and therefore provides significant market opportunities for Mengniu Dairy to unlock.

The MinterEllison cross-border deal team was led by partners Ben Smith (Sydney), Bi Chen (Beijing), Michael Gajic (Sydney) and Barbara Mok (Hong Kong). They were supported by David Moore (Partner), Katrina Groshinski (Partner), Michael Scarf (Senior Associate), Sarah Hampson (Senior Associate), Chanan Ng (Associate), Catherine Cai (Associate), Stephen Tsui (Associate), Anna Madafiglio (Associate), Patrick McCabe (Associate), Aimee Yi (Associate), Elouise Flowers (Associate), Kate Reagh (Lawyer), Krish Nadarajah (Lawyer) William Ryan (Lawyer), Thomas Elkington (Lawyer) and Isabelle Middleby-Clements (Lawyer). In memory of the late Simon Cooper (Sydney Corporate).

Michael Gajic noted, “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.”