WhiteWave uses joint venture to enter Chinese market

WhiteWave Foods is purchasing 49% of Yashili Zhengzhou, a subsidiary of China Mengniu Dairy, for $85 million. "Through the joint venture, WhiteWave will be extremely well positioned to expand its business to this important geography," said Gregg Engles, chairman and CEO for WhiteWave. "Although we still have a lot of work to do before we begin distributing product, this is another compelling step for WhiteWave as we continue on our path to change the way the world eats for the better."

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