Yili to take control of Thai ice cream maker Chomthana

Dairy products maker Inner Mongolia Yili Industrial Group Co Ltd is planning to buy a 96.46 percent stake in Thailand-based ice cream and frozen foods manufacturer the Chomthana Co Ltd for $80.56 million to further expand its reach in the Southeast Asian markets.

Chomthana Group, which also operates cold-chain logistics, has a nationwide distribution network in Thailand and its ice cream products are available in 13 countries and regions.

According to Yili Chairman Pan Gang, the move is part of the Chinese firm's efforts to provide the best global resources and innovations to its customers. It will also level up the local ice-cream market in Thailand and meet the growing demand for high-end products from local consumers.