Yili set to acquire Westland Milk for NZ$588mn
China’s largest dairy firm Yili Group has announced that it is set to acquired New Zealand’s Westland Milk, with NZ Herald reporting that the deal is worth around NZ$588mn.
According to Yili’s press release, the firm’s offer is for 100% of Westland’s shares, and Westland itself has said that the cash would be returned immediately to its farmer shareholders.
Westland is New Zealand’s second-largest dairy producer, with the Fonterra Co-operative being the country’s leading firm in the space.
Yili aims to expands its APAC presence through the acquisition in Oceania, and said in its press release that it will combine its expertise with Westland’s to drive operational efficiency and enhanced product quality.
According to the press release, Yili’s revenues hit US$11.97bn in 2018 and has consolidated its position as Asia’s leading dairy firm.
The move is not Yili’s first in New Zealand. In 2014, the company invested US$44.68mn to develop a number of production facilities in the country.
Amobee Appoints Nick Brien As CEO
In its latest strategic move, Amobee—a global multimedia advertising leader—announced that Nick Brien will be its Chief Executive Officer. The company is entirely owned by Singtel, Asia’s leading communications technology organisation, which provides consumers with mobile, broadband, and TV and businesses with data hosting, cloud, network infrastructure, analytics, and cybersecurity tools.
Brien, who has worked for Microsoft, Intel, P&G, and American Express, will take over to drive the next generation of advertising tech. Said Evangelos Simoudis, Chairman of the Board of Amobee: ‘Nick has the deep expertise in advertising that we need to seize the market opportunities ahead’.
How Did Brien Get Here?
Before joining Amobee, Brien led 15,000 people across 40 divisions as CEO of the Americas for Dentsu International. For thirty years, he’s helped brands pilot unique advertisements, keeping up with the latest trends. He’s served as CEO of McCann Worldgroup, global CEO of IPG Mediabrands, President of Hearst Marketing Services, and CEO of iCrossing. Over the course of his career, he’s consistently strategised how to keep up with digital shifts. Now, he’ll capitalise on Amobee’s legions of experienced data scientists and developers.
‘I’m excited to be joining Amobee at such a transformative time in our industry’, Brien explained. ‘We’ll pilot advertising accountability and intelligent decisioning. And there’s no doubt in my mind that optimising media performance—whether you’re targeting, planning, buying, or delivering—can only be achieved using applied science, machine learning, and data analytics’.
What Does This Mean for Amobee?
Amobee is set on growing its personal brand within the advertising sector. As APAC social media influencers, Gen Z growth hackers, and viral content producers start to enter the field, established companies will be working doubly hard to keep up. Amobee, however, is still looking good. With a Gartner Magic Quadrant for Ad Tech, a Forrester New Wave recognition, and now, Nick Brien as CEO, the firm is set up for success.