Data & Intelligence

Impact Case Study: Modern Dairy

Kohlberg Kravis Roberts & Co. L.P. invested US$150 million for a 33% stake.

Company Headquarters:  China
Business focus:  Dairy cow farming and milk production
Revenue:  US$172 million (FY 2011)

impact highlights

  • Modern Dairy’s revenues grew from RMB184 million (US$27 million) in FY2008 to RMB1,113 million (US$172 million) in FY2011, representing a CAGR of 82%
  • With support from KKR, management and operational systems have been implemented in line with global best practices, resulting in EBITDA margins for FY2009, FY2010 and FY2011 of 17.8%, 20.5% and 28.3%, respectively
  • Management incentives and a commitment to quality and risk mitigation have enabled Modern Dairy to maintain an incident-free record of providing safe milk to consumers
  • Improved milk yield by 26% via improved nutrition, breeding, and reduced disease rate
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