, Inner Mongolia. The owner and co-founder of Mengniu is
Niu Gensheng, a former employee of
Yili, another Inner Mongolian dairy giant which is now Mengniu's largest competitor. Co-founder
Sun Xianhong has also held the Vice President of Marketing position. The company was founded in 1999, and the company's textbook growth has swept the country by storm. In 2002,
Morgan Stanley,
CDH Investments and China Capital Partners signed agreement with Mengniu to invest US$26m for a total share of 32% in the company. Mengniu then went on to be listed on the
Hong Kong Stock Exchange (SEHK) in June 2004. When Mengniu had financial trouble as the result of business following its role in the
2008 Chinese milk scandal, in July 2009, Mengniu sold a 20% stake to a
consortium led by the state-owned
COFCO Group, China's largest importer and exporter of food. That sale made the state the largest
shareholder and effectively nationalized the company. ==Advertising==