KKR buys stake in dairy firm

Private equity firm KKR & Co has invested US$150 million in domestic milk supplier Ma Anshan Modern Farming, Bloomberg reported, citing people familiar with the deal. No financial details were released, but one source said KKR’s stake is expected to be at least 20%. Ma Anshan will use the money to build 20 to 30 large dairy farms to add to the seven it operates now. The company has approximately 40,000 dairy cows and produces more than 150,000 tons of raw milk each year. The investment is KKR’s second in China after it bought a stake in Henen-based Tianrui Group Cement in 2007.