On September 19, 2008, the General Administration of Quality Supervision, Inspection and Quarantine revoked the title of China famous brand liquid milk product of Inner Mongolia Mengniu Dairy Group Co., Ltd.
On the evening of July 6th, Mengniu Dairy announced on the Hong Kong Stock Exchange that the company would transfer 20% equity of Mengniu to a new company jointly invested by COFCO and Hopu Fund at a price of HK$ 65,438+07.60 per share, involving a transaction amount of HK$ 6,654.38 billion, thus becoming the largest shareholder of Mengniu Dairy. Ning entered the board of directors of Mengniu and became a non-executive director of Mengniu.
201April 12, Mengniu Dairy said that according to the company's articles of association, President Yang Wenjun's two-term term has expired, and with the consent of the board of directors, he no longer holds the post of president, and Sun Yiping will take over as president. Mengniu completely entered the COFCO era.
In August of 20 15, Mengniu Dairy ranked 48th in the list of "Top 500 Chinese Manufacturing Enterprises in 20 15" sponsored by China Manufacturing Enterprises Association. Domestic market, and exported to Mongolia, Southeast Asia, Saipan, Hong Kong and Macao and other countries and regions. After seven years of business, they have created the world-famous "Mengniu Speed" and "Mengniu Miracle". By the end of 2005, the income from main business increased from RMB 37 million to RMB 654.38+RMB 08 million, with an average annual increase of 654.38+0.58%. The annual tax payment increased from 65.438 million yuan to 487 million yuan, with an average annual increase of 654.38+0.80%; The net profit increased from 530,000 yuan to 456 million yuan, with an average annual increase of 208%; The market share of main products has reached more than 30%; The sales volume of UHT milk ranks first in the world, and the sales volume of liquid milk and ice cream ranks first in the country; The export volume of dairy products ranks first in China. As a key leading enterprise in national agricultural industrialization, Mengniu has established more than 3,700 milk stations in the surrounding areas of its production base, so far it has purchased more than 6.5 million tons of fresh milk, distributed 654.38+0.2 billion yuan of milk to farmers and herdsmen, and distributed more than 4.2 billion yuan of milk in 2005 alone. The average daily milk collection reached nearly 9000 tons, ranking first in the industry. In terms of social welfare undertakings, it took the lead in donating120,000 yuan to fight SARS in 2003; In 2004, it donated more than 30 million yuan to teachers nationwide; On June 1 day, 2004, Mengniu was successfully listed in Hong Kong. In 2005, he invested 6,543,800 yuan to participate in the establishment of Hohhot Dairy Cow Risk Fund, and Chairman Niu Gensheng donated all his personal shares to set up the "Old Cow Special Fund"; In 2005, Mengniu Dairy Group and Hunan Satellite TV jointly created the "Mengniu Yogurt Super Girl" youth girl show, which shocked the whole country; In 2006, he actively responded to the call of the Prime Minister and took the lead in donating milk to 500 primary schools in poverty-stricken areas throughout the country for a period of one year. It is estimated that 754.38+million pupils will benefit, with a total value of 654.38+1100 million yuan. The Dutch cooperative bank released the ranking report of global dairy enterprises in 2009, and China Mengniu Dairy Group ranked 19, which was the first time that china dairy entered the top 20.
The cornerstone of Mengniu was built on a wasteland. Nine years later, Mengniu Group has been able to compete with Yili Group, the first powerful dairy enterprise in China, and is called "grassland dairy industry". How did Mengniu build its brand into a top brand in china dairy in just six years? Niu Gensheng, chairman and president of Mengniu, told the secret of Mengniu brand creation.
On August 28th, 20 15, Mengniu brand ranked 78th in the list of "Top 500 Chinese Brands in 20 15" sponsored by China Brand Value Research Institute. According to the prospectus of Mengniu Dairy, Mengniu Dairy had six major shareholders before listing, namely Yinniu Company (44.8%), Jinniu Company (2 1. 1%), Niu Gensheng (6. 1%), MSDairy(8.7%) and CDH.
Among them, the latter three companies were established by Morgan Stanley, CDH Investment and Win-Win Investment respectively for investing in Mengniu, while Jinniu Company and Yinniu Company were overseas companies registered in BVI on September 23rd, 2002 by Mengniu executives and "executives of companies related to Mengniu business" respectively. Jinniu Company is composed of Mengniu executives, with 0/5 shareholders/kloc, and Niu Gensheng holds 28% of the shares.
On July 7th, 2009, a new company composed of China COFCO and Hopu Fund (70% owned by COFCO) acquired 20% equity of Mengniu at HK$ 6 17.6 per share, and COFCO became the largest shareholder of Mengniu!
Mengniu Dairy Group and Junlebao Dairy jointly held a press conference on strategic cooperation in Beijing, marking the beginning of cooperation between the first brand in china dairy and the fourth brand in yogurt market: Mengniu will invest 469.2 million yuan to hold 5 1% equity of Junlebao Dairy, becoming the largest shareholder in Junlebao. This cooperation will become the most influential cooperation in china dairy in recent two years, which indicates the coming of the "wave" of merger, reorganization and merger in china dairy. "With the continuous expansion of enterprise scale and strength, mergers and acquisitions have also become an important measure to enhance competitiveness, which is also the only way for many foreign dairy giants to develop. In the face of fierce competition pressure in domestic and foreign markets, it is necessary for china dairy to develop faster and build a world-class national dairy brand. " Song Kungang, chairman of China Dairy Industry Association, said at the signing ceremony, "The cooperation between Mengniu and Junlebao can be said to be timely, which is not only conducive to achieving win-win cooperation between the two sides, but also provides a good example for china dairy to enter the era of brand integration."
Strong alliance, harmonious * * * wins.
According to the data, Junlebao was founded in 1995, and has now developed into the largest yogurt production base in North China.
Yang Wenjun, president of Mengniu, revealed at the press conference that Junlebao's business target will at least double, with a target of 3-4 billion yuan. Yang Wenjun said that this cooperation can be described as "win-win": First, win-win with the industry will help accelerate the national brands to become bigger and stronger, and compete harmoniously through capital integration; Second, a win-win situation with consumers will help * * * enjoy resources such as milk source and R&D, and provide consumers with more and higher quality products; The third is to win with the industrial chain. The cooperation between the two parties is conducive to better consolidating the milk source base of the pasture and promoting the healthy development of the dairy industry chain.
Focus on yogurt and highlight its advantages
The data shows that the market capacity of low-temperature products in the domestic retail market has reached about 654.38+03 billion yuan, with a compound growth rate of 654.38+08.2% in the past three years, of which the growth rate of yogurt production and sales in the past three years is as high as 20%, which greatly exceeds the growth rate of other dairy products. In the industry's view, with the improvement of residents' living standards and the enhancement of health awareness, the yogurt market will expand rapidly in the next few years. Therefore, the yogurt market has become a battleground for dairy enterprises.
After this cooperation, the yogurt market share of the companies under Mengniu Group will reach more than 30%, and the two brands, Mengniu and Junlebao, will also form a united front through their own efforts.
According to the industry, the far-reaching impact of this integration is that the two sides complement each other in "soft assets" such as product research and development, production technology and quality control. Junlebao and Mengniu can enjoy Mengniu Asia's largest high-tech dairy research institute, overseas workstations and other technological innovation platforms and related research and development achievements, so as to improve the technological content and market competitiveness of low-temperature products in Junlebao. The two sides will jointly develop more high value-added yogurt products for consumers to meet different consumer needs. In the past, Mengniu Guan Yi Milk pioneered the high-end functional yogurt in China, while Junlebao Jujube Yogurt created the sales miracle of this category with its taste innovation. Such product innovation is expected to achieve a longer-term development in the future.
Jin Ye, Dean of College of Food Science and Engineering, Inner Mongolia Agricultural University, said: "The core competitiveness of china dairy's future development lies in connecting with the world's most advanced dairy technology and enhancing its independent research and development capability in high value-added dairy products. The strategic cooperation between Mengniu and Junlebao will complement each other in scientific research strength and experience, and promote the research and development and application of low-temperature dairy products to a new height. I believe that through this cooperation, it will greatly promote the strengthening of high value-added low-temperature dairy products and enhance china dairy's international competitiveness. "
Brand integration and intensive development
After the cooperation between the two parties, Junlebao will take advantage of Mengniu's advantages in milk source, R&D, quality control and marketing channels to accelerate the transformation of "Junlebao" from a regional strong brand to a national brand, and better help china dairy's sustained and healthy development.
It is understood that as early as 2009, the Ministry of Industry and Information Technology and the National Development and Reform Commission formulated the Dairy Industry Policy to encourage domestic dairy enterprises to integrate processing resources and improve their industrial level through asset restructuring, mergers and acquisitions, and strong alliances. The Twelfth Five-Year Plan further proposes that the overall development scale of china dairy should be changed from extensive to quality and efficiency. This means that the cooperation between Mengniu and Junlebao may open the curtain of china dairy's integration.
Liu, chairman of China Dairy Association, said at the press conference that the cooperation between Mengniu and Junlebao conforms to three aspects: first, it conforms to the spirit of economic transformation in the Twelfth Five-Year Plan; Second, it is in line with the industry policy of restructuring dairy resources and improving industry concentration; Third, the transition from competition to concurrence conforms to the laws of market economy.
"Many industries in China are highly dispersed, and the market concentration is far from enough, which leads to poor economies of scale and hinders product quality control and technological progress. China's dairy industry also has such problems, even more prominent. To solve this situation, we must vigorously integrate industry resources, and mergers and acquisitions are inevitable and the most effective way. " Ma Yu, director of the Research Institute of the Ministry of Commerce, believes that "Mengniu's past performance mainly relied on self-built factories, and there was little capital integration. With the introduction of industrial policies and the changes of enterprises' orders of magnitude, it has become a realistic need to change from incremental drive to stock reorganization. In essence, the integration of Junlebao is the beginning of Mengniu's integration of local regional brands, which will also promote the accelerated intensive growth of the whole dairy industry. 20 13 On June 8th, China Mengniu Dairy Co., Ltd. (hereinafter referred to as "Mengniu Dairy") and Yashili International Holdings Co., Ltd. (hereinafter referred to as "Yashili") jointly announced that Mengniu Dairy issued a tender offer to all shareholders of Yashili, and obtained a wholly-owned subsidiary of the controlling shareholder Zhang's International Investment Co., Ltd. (hereinafter referred to as "Zhang's International") and the second largest shareholder Kaileizhou Fund.
This is by far the largest M&A in china dairy, and it is also an important signal for Mengniu Dairy to exert its strength in the field of milk powder. After joining hands, the two dairy giants will take advantage of their respective advantages in products, brands and channels, and accelerate the overall upgrading of the high-end milk powder industry through resource integration and complementary advantages.