- Halo has signed a Memorandum of Strategic Cooperation valued at USD40m forming a strategic partnership with Theland.
- The partnership will encompass the development and manufacture of Theland’s milk powder products into China, including whole milk powder, skim milk powder and other formulated nutritional powders across a range of pack formats including bags, cans and PET jars.
- The commencement date for the strategic partnership is November 2021 with a two-year term.
- Initial confirmed orders received total USD1.5m and are due to be manufactured by the end of November 2021; and
- Theland is majority owned by Alibaba in China.
CEO of Theland Asia Pacific Mr Sheng Wenhao said: “We have selected to work with Keytone (Halo) for this key and strategic partnership, aligning with Theland’s strategy and growth priorities in core markets as we continue to build and scale our formulated dairy brands and bring new products to market. Keytone’s (Halo’s) advanced facilities aligns with Theland’s objective to provide high quality products and flexible services from green, clean, pristine New Zealand to Chinese consumers. We look forward to a long and successful relationship with Keytone (Halo).”