Olympus Capital Holdings Asia, a middle market private equity firm, is leading a group of investors paying $45 million for a “sizable minority stake” in China’s Huaxia Dairy Farm Ltd., Reuters reported. The firm will put $30 million into the dairy producer, with European dairy company Mueller Milch Management investing $10 million. Existing shareholders in Huaxia Dairy will supply another $5 million. The company, which runs own of China’s largest dairy farms, will use the money for general working capital and expansion, Reuters wrote.
(Reuters) – Middle market private equity firm Olympus Capital Holdings Asia said on Tuesday it is leading a group that will invest $45 million for a sizeable minority stake in China’s Huaxia Dairy Farm Ltd.
Olympus Capital will invest $30 million in Huaxia Dairy, while leading European dairy producer Mueller Milch Management will invest $10 million, and existing shareholders will inject $5 million.
Huaxia Dairy, which owns and operates one of China’s largest dairy farms, will use the proceeds for capital expenditure and expansion.
(Reporting by Stephen Aldred; Editing by Ken Wills)