Yili eyes major US yogurt firm

Dairy giant plans to spend $850 million on purchase of 100 percent stake in Stonyfield

China's biggest dairy producer Yili Industrial Group Co has shown its ambition to consolidate its position and expand its production line with its latest overseas acquisition plans.

Yili announced on Wednesday night that it will bid for a 100 percent stake in leading US organic yogurt brand Stonyfield, which is currently owned by French dairy giant Danone. The acquisition will total $850 million, according to Yili.