Junlebao Dairy Group, one of the leading dairy producers in China, has acquired a minority share in the yogurt shop chain More Yogurt.
As per Junlebao’s official statement, the company has secured a 30% ownership in More Yogurt, a chain boasting over 1,600 stores across China.
The financial details were not revealed.
Junlebao, headquartered in Hebei and operating 25 production plants throughout China, promotes a range of products such as yogurt, fresh milk, and organic milk powder. Among its brand offerings is Purjoy yogurt.
Junlebao, with 25 farms in China, stated that the collaboration between the two companies would extend to areas such as procurement and research and development (R&D).
Approximately two-thirds of More Yogurt’s establishments are located in first- and second-tier cities in China, as mentioned by Junlebao.
In May, Junlebao once more invested in Yunnan Royal Laisier Intelligent Dairy Co., acquiring a 32.9% share in the company from fellow Chinese dairy enterprise Royal Group.
The transaction increased Junlebao’s ownership in Laisier Intelligent to 58%.
