Australian dairy company Montec International says a Chinese investment group, which has bought a 20% stake in its business, will help it to expand into Beijing and Shanghai.

Puji is the largest mortgage broking group in Shanghai. Montec sells a range of white and flavoured milks through 2,800 outlets, mainly in Beijing and Shanghai. The company is expanding into ice cream, yogurt and other dairy products.
Montec managing director Peter Herd says: “It is an important step in a developing relationship, which will provide significant support and impetus to both Montec’s product marketing activities and in identifying and developing opportunities for expansion through acquisition.”