New Zealand’s Westland Milk Products, owned by China’s Yili Group, has recently acquired dairy products firm, Canary Foods.
Canary Foods supplies its own-label butter and cheese to retail, foodservice and hospitality customers, including airlines and bakeries. Founded in 2001, the business serves the local and Australian markets, as well as Asia.
The Westland Milk cooperative was acquired by China’s largest dairy manufacturer, Yili Group, in 2019. Richard Wyeth, CEO of Westland Milk said, “Canary is a fantastic fit for our business because it is so obviously based on a strong understanding of what our customers want and need. Their commitment to innovation, sustainability and quality in pursuit of consumer demands are values we very much admire and uphold.”
Established in 1937, Westland Milk manufactures butter, milk and cream under its Westgold brand for the retail and out-of-home channels, and is also a dairy ingredients supplier. The acquisition by Yili helped to provide it with new capital to turn around its business burdened that time by high debts and limited cash flow.
Parent company Yili generated impressive revenue of Rmb 110.6 billion (US$15.5 billion) in its 2021 financial year.
