Pan-Asian private equity firm Olympus Capital and Singapore’s sovereign wealth fund GIC have provided $106m to Chinese milk producer Huaxia Dairy Farm to further develop its retail and farming operations.
Olympus and GIC have agreed to invest $30m and $70m, respectively, with the rest expected to come from other stakeholders.
The deal brought Huaxia’s largest shareholder Olympus’ total investment in the company to $108m.
The company operates three facilities in Sanhe with a fourth one currently under construction in Xinghua.
Olympus led a consortium that bought a $40m stake in the business in 2011 and then invested a further $50m in November 2012.
Last month GIC and Insight Ventures agreed to buy education software business iParadigms from Warburg Pincus in a $752m deal.
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