Core Viewpoint - The article discusses the sale of Yuno China, a high-end yogurt brand, by Tiantu Investment to Kunshan Noyuan Ruiyuan Management Consulting Co., with a transaction value of approximately 1.8 billion RMB, highlighting the challenges faced by the yogurt industry in China and the strategic reasons behind the sale [3][5]. Group 1: Transaction Details - Tiantu Investment announced the sale of its stake in Yuno China for about 1.8 billion RMB, marking it as one of the significant transactions in the dairy industry in recent years [3][5]. - The sale is expected to result in a loss of 847,000 RMB for Tiantu Investment, despite the brand's recent recovery in performance [3][6]. - Yuno China, the Chinese entity of the global yogurt brand Yoplait, was acquired by Tiantu Investment in 2019, but the specific acquisition price was not disclosed [3][4]. Group 2: Performance and Market Challenges - Yuno China faced significant challenges post-acquisition, including the impact of the pandemic and industry adjustments, leading to losses of 96.3 million RMB, 57.7 million RMB, and 39.7 million RMB in 2020, 2021, and 2022, respectively [5][6]. - The company's revenue showed improvement in 2023 and 2024, reaching 450 million RMB and 810 million RMB, with net profits recovering to 8.394 million RMB and 95.454 million RMB [5][6]. - The high-end yogurt market in China has been under pressure, with increased competition from domestic dairy companies and various trendy yogurt brands, contributing to the decision to sell [6][7]. Group 3: Future Outlook - The new owner, Kunshan Noyuan Ruiyuan, is backed by IDG Capital, which has a history of investing in consumer technology and health sectors [6][7]. - Analysts suggest that the rapid rise of domestic consumer brands poses significant challenges to traditional international brands like Yuno, and the future management of Yuno China under IDG Capital remains to be seen [6][7].
昔日高端酸奶巨头再易主，天图投资亏本出售优诺中国