Case 1: Business

• American Dairy was a small U.S. company. Its growth stalled. Feihe Dairy was a rapidly growing Chinese dairy company in 1999. Through ACIBA's assistance, Feihe Dairy became Feihe International and successfully merged with American Dairy in 2001.
• The combined new American Dairy, Inc. was later listed on NYSE. Through multiple rounds of private and public funding, American Dairy, Inc continued its rapid Chinese market growth.
• American Dairy experienced multiple years of increasing revenue and earnings. Its FIRMUS line of infant formula products became one of top dairy brand with the best quality in China.

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Stage 1 (1999 - 2002)

Small public traded company American Dairy had its growth stalled in U.S. ACIBA helped American Dairy found a solid China partner which was looking for U.S. to fuel its rapid market growth.

Stage 2 (2003 - 2010)

Through the merger of American Dairy and Feihe Dairy, the new American Dairy became listed on NYSE.

Stage 3 (2011 - present)

Morgan Stanley funded Feihe to become private. FIRMUS products became a leading dairy brand in China.