China's Yili Teams With Italian Dairy Giant For Global Distribution

Chinese dairy company Yili announced that the company has formally reached a strategic cooperation with the Italian diary giant Sterilgarda Alimenti S.p.A.

This is reportedly the third time for Yili to make overseas moves in 2013. In April, the company invested CNY1.1 billion in a milk powder project in New Zealand. In July, it formed a strategic partnership with the American dairy enterprise Dairy Farmers of America.

Like other foreign dairy companies, Sterilgarda is attracted by the huge potential of the Chinese market. Fernando Sarzi, chief executive officer of Sterilgarda, said the Chinese market is the fastest growing dairy market in the world and Yili is a top brand in the country. He said the company has been looking for a partner like Yili and hopes the two parties can implement in-depth cooperation in various areas.

As one of the largest diary makers in Italy, Sterilgarda has rich quality milk sources and the world-leading filter-membrane patent technology. Milk source, production, and technology are reportedly the main contents of the cooperation. Financial terms were not disclosed.

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