The Australian Competition & Consumer Commission (ACCC) has given the nod to China Mengniu Dairy Company (Mengniu) for the proposed acquisition of Lion Dairy & Drinks (Lion D&D). "Mengniu Dairy was already looking for opportunities to diversify its business and expand its brand presence in the emerging markets. The transaction will allow Mengniu to enhance its presence in the Australian market and strengthen its portfolio by leveraging Lion's long-standing brand presence and manufacturing and cold chain distribution hold across Australia. The transaction will strengthen Mengniu with a stronger foundation to excel in the Asia-Pacific (APAC) region," said Shagun Sachdeva, consumer insights analyst at GlobalData, a data and analytics company. Mengniu has recently completed the $2.2bn takeover of infant formula company Bellamy's Australia, in line with its aggressive acquisition strategy. The series of acquisitions will create greater synergies for the group not only from the geographical footprint point of view, but also from the supply chain perspective, too.
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