Group 1 - TianTu Investment announced the sale of its 45.22% stake in Yuno Dairy Co., Ltd. to Kunshan Noyuan Ruiyuan Management Consulting Co., Ltd. for a transaction price of 813 million yuan [1] - IDG Capital, which is behind Kunshan Noyuan Ruiyuan, will acquire the entire stake in Yuno China for a total of 1.8 billion yuan, becoming the controlling shareholder [1] - The transaction marks another classic case of investment institutions acquiring multinational brands' operations in China [1] Group 2 - Yuno China is the business entity for Yoplait, the world's second-largest yogurt brand, in mainland China, and has a history of 60 years [4] - After the transaction, IDG Capital will retain the original management team of Yuno China to enhance brand competitiveness and support regional expansion and product innovation [4] - IDG Capital has also made significant investments in other international consumer brands, including acquiring a majority stake in Danish candy brand Lakrids By Bülow [4] Group 3 - There is a growing trend of international brands divesting their Chinese operations, with Chinese private equity (PE) firms accelerating their acquisitions [5] - Recent strategic partnerships include CPE Yuanfeng's collaboration with Burger King to establish a joint venture in China, and Starbucks' partnership with Boyu Capital for retail operations in China [5][6] - The pressure from local brands and the advancement of local management talent are key reasons for international brands to sell their Chinese operations or reduce their stakes [6]

Group 1 - TianTu Investment announced the sale of its 45.22% stake in Yuno Dairy Co., Ltd. to Kunshan Noyuan Ruiyuan Management Consulting Co., Ltd. for a transaction price of 813 million yuan [1] - IDG Capital, which is behind Kunshan Noyuan Ruiyuan, will ultimately acquire 100% of Yuno China for a total transaction price of 1.8 billion yuan, becoming the controlling shareholder [1] - The original management team of Yuno China will be retained post-transaction to maintain and enhance brand competitiveness, aiding in regional expansion and product innovation [4] Group 2 - The acquisition of Yuno China is part of a broader trend where Chinese private equity (PE) firms are increasingly acquiring international consumer brands' operations in China [6] - Notable recent transactions include CPE Yuanfeng's strategic cooperation with Burger King to form a joint venture, and Starbucks' partnership with Boyu Capital for its retail operations in China [6][7] - The trend of international brands divesting their Chinese operations is driven by competitive pressure from local brands and the advancement of local management capabilities [7]