HONG KONG—Private-equity firm Carlyle Group said it has recruited safety experts to help a Chinese baby-formula maker it has a stake in, Yashili Group Co., shore-up consumer confidence in the wake of food safety scandals that have plagued China in recent years.
Separately a person familiar with the matter said Yashili is preparing for an initial public offering. The company couldn't be reached for comment on its plans and a Carlyle spokeswoman declined to comment.
China's 35 billion yuan to 40 billion yuan baby-formula industry is recovering from a food-safety scandal in which six babies died and hundreds of thousands were sickened in 2008. Several dairy companies were found to have mixed melamine, a chemical used in the making of plastic, into its products. Yashili wasn't involved with the mixing of melamine into milk products, but like many Chinese food companies, its supply chain was impacted.
Last month state media said Chinese authorities found more melamine-tainted products, suggesting food safety remains an issue in China.
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Source: Online.WSJ
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