The sale should close on 27 August. American Dairy will owe Sequoia more shares if it doesn’t hit certain revenue goals this year and next. And Sequoia can put someone on American Dairy’s board of directors.
American Dairy makes and sells infant formula, milk powder and soybean, rice and walnut products in China, and owns Feihe Dairy in Beijing.
Source: San Francisco Business Times
© FoodBev Media Ltd 2024