Westland Milk to be sold to Chinese dairy giant
Chinese dairy giant Yili will pay $588 million for dairy co-op Westland Milk, it was announced overnight.
The word on the street is that Westland is hunting around for a potential buyer/investor. In the meantime, on the very day a huge puff piece ran in the country’s largest newspaper on what a success story Synlait has been, the minority Chinese-owned dairy company dropped its forecast milk payout to farmer suppliers this season by 50 cents a kg!
The Hound suggests it is probably not the best timing to be skiting about how good and clever you are on the very day you cut the payout to your farmer/suppliers.
