Inner Mongolia Yili Industrial Group has announced its plans to acquire a 37% stake in organic milk producer China Shengmu Organic Milk for CNY4.6bn ($682.4m).

Yili is acquiring the stake by raising funds through private placement of shares.

Both the companies involved in the acquisition are based in China.

Robertet has announced the acquisition of superoxide dismutase (SOD) ingredients supplier Bionov SARL.

The acquisition will strengthen Robertet’s health and beauty products portfolio.

Both the companies involved in the acquisition are based in France.