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WORLD NEWS: "KKR Invests In Chinese Dairy Farm," by Rick Carew, Wall Street Journal, 2 December 2008.
Kohlberg Kravis Roberts & Co, a legendary private-equity firm (aka hedge fund) is "betting around $100 million that it can help clean up China's scandal-tainted dairy industry by teaming up with the country's No. 1 milk producer to invest in a dairy-farm company."
Solid bottom-of-the-pyramid thinking by a firm famous for bottom feeding in tough times, and China's dairy industry certainly qualifies there.
The prize? That huge future dairy consumption market that is China's rising middle class consumers. China's consumption of dairy has skyrocketed several fold in the last decade, and still sits at less than one-third that of the U.S.
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