A2 Milk Pauses Trading Amid Potential Acquisition Talks as It Targets China Growth
Source: DairyNews.today
A2 Milk, one of the largest companies on the NZX with a market capitalization of $5 billion, has announced a trading halt on the ASX, citing the need for more time to update the market regarding a potential acquisition. The infant formula company's shares surged by 8% before trading was paused, despite no official news at the time.
Retail analyst Phillip Kimber noted that transforming the supply chain is a key strategic focus for A2 Milk. The company is targeting three new China Label IMF products, with ongoing efforts to secure additional China Label registrations. This includes potential joint ventures or acquisitions in both New Zealand and China, which could cost "hundreds of millions" depending on the structure of the deal.
A2 Milk continues to push through challenges in the Chinese market, aiming to strengthen its foothold in the lucrative infant formula segment.
Image by Lucia Stein, ABC
23.09.2024
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