Several Bright Dairy initiatives sought to ensure an adequate supply of milk at reasonable cost and advance ongoing efforts to access state-of-the-art technology and improve food safety and quality.
The company signed an agreement to purchase milk from Australia’s Pactum Dairy Group. Bright also entered
a joint venture with Hong
Kong private equity fund RRJ Capital, selling a minority stake in its Shanghai Bright Holstan Company subsidiary. In addition, Bright signed an agreement to purchase 56 percent of Tnuva, Israel’s largest food producer.
Bright Dairy & Food Co., Ltd. was organized in 1996 from Shanghai Dairy Company and Shanghai Industrial Holdings Ltd. of Hong Kong. Bright Dairy became a publicly traded company in 2002. It’s listed on the Shanghai Stock Exchange.
Net income increased 42 percent to $34 million in the first half of 2014 on revenue of $1.6 billion, a 33 percent gain. For the full year 2013, net income rose 34 percent to $66 million on a 21 percent revenue hike to $2.6 billion.