PE firm Affinity is Beijing’s new milkman

Private equity firm Affinity Equity Partners acquires a 40% stake in a Chinese dairy business, giving it a share of the biggest milk supplier to Beijing.

PE firm Affinity is Beijing’s new milkman

Private equity firm Affinity Equity Partners has acquired a 40% stake in the largest dairy supplier to Beijing for $123 million, according to a person familiar with the matter.

The deal with Beijing Capital Agribusiness Group CAG comes amid increasing demand for high-quality milk products as China’s middle class expands and demands creamier, fresher milk but, above all, safe food following a national tainted-milk scandal in 2008.

Most of China’s milk is...

To continue reading, please login or register for free

Click for more on: china | milk | affinity equity partners

Print Edition

FinanceAsia Print Edition

CONFERENCES