摘要
现今乳制品行业市场集中度高,通过内生增长难度较大,企业为了扩大规模、增加筹码纷纷选择并购这一手段实现目的,但并购带来的是效益,同时也有风险,企业要谨慎思考避免盲从。文章以蒙牛并购妙可蓝多为例,分析并购动因,从财务与非财务两方面分析并购前后公司绩效,为乳制品行业企业并购提供理论参考。
Nowadays,the dairy industry has a high market concentration and it is difficult to grow through endogenous growth,so companies have chosen M&A as a means to achieve their purpose to expand their scale and increase their leverage.However,mergers and acquisitions bring benefits and risks at the same time,so companies should think carefully to avoid blindly following them.The article takes Mengniu's M&A of Milkground as an example,analyzes the motivation of M&A,and analyzes the company's performance before and after M&A from both financial and non-financial aspects.It provides a theoretical reference for the M&A of companies in the dairy industry.
作者
翟晨辉
Chenhui Zhai(Wuhan University of science and technology Evergrande School of management,Wuhan,Hubei,430000,China)
