Money & Banking
“It’s insane”: Footage emerges of shopping centre brawl over baby formula
Shoppers have been recorded on video brawling outside Woolworths in Sydney’s Hurstville over tins of baby formula.
People can be seen laying down on the ground as they kick and punch one another with shopping bags in the video shared by Nine News.
The fight comes shortly after Chinese dairy company Mengniu announced on Monday that it had made a takeover offer for Australian infant formula producer Bellamy’s valued at $1.5 billion.
Mengniu – a business based in Hong Kong has been looking to globally expand in recent years, and said it was attracted to the Australian group’s local operations and supply chain, as well as its “leading organic brand position”.
— Nine News Melbourne (@9NewsMelb) 16 September 2019
“Our sales growth ambitions for Bellamy’s in Australia, and the broader Asia Pacific region, will see investment in the local dairy industry to ensure the required capacity is in place to achieve these plans,” said the company’s CEO Lu Minfang in a statement to the Australian Stock Exchange (ASX).
Mengniu has previously highlighted the ongoing demand of infant milk formula in China, which has led to chaotic scenes in Australian supermarkets.