Daily Sound Bite: KKR to Distribute Milk Throughout China
Investment firms Kohlberg Kravis Roberts & Co. LP and China's CDH Investments are forming a joint venture with Chinese dairy producer Modern Dairy to distribute raw milk throughout China. China's demand for imported milk soared after several safety scares with milk in the country. David Liu, the head of KKR in China, said in a statement:
"The management of Modern Dairy saw a need arising from increasing demand for safer and healthier milk. The solution was large-scale dairy farm that incorporated global best practices. Today, food safety remains a top priority and this new investment helps increase the supply of premium raw milk in China."