Tianjin, June 25 - Yayi International Incorporation, a leading producer and distributor of premium goat milk formula products for infants, toddlers, and adults throughout the People's Republic of China, today announced that it has successfully closed a private placement transaction with SAIF Partners III L.P., pursuant to which the Company has received US$15 million investment from SAIF.
The Company plans to use the net proceeds from the private placement for expansion of production capacity and enhancement of sales and marketing efforts.
"We are very pleased to have SAIF take part in our goat milk business in China. We believe that the proceeds from the private placement will accelerate our business expansion across China," commented Ms. Li Liu, Chief Executive Officer of Yayi International. "As the leading goat milk products producer and distributor in China, we remain dedicated to maximizing value to our shareholders in the investment community."
"We are very excited to begin our partnership with Yayi International," stated, Kenneth Lee, Senior Vice President of SAIF. "We believe the Company has been a tremendous pioneer in the goat milk segment of the dairy industry in China and we are confident of the Company's ability to build on its current success to continue growing its business into the future."