关键词: 内蒙古蒙牛乳业（集团）股份有限公司（简称“蒙牛”）, 妙可蓝多（天津）食品科技有限公司（简称“妙可蓝多”）, 并购, 协同效应

Abstract: In the context of increasingly fierce competition in the dairy market and the trend of industry consolidation, Mengniu's merger and acquisition of Microcolando has become a high-profile industry event. This paper took the acquisition of Miaokeland （Tianjin） Food Technology Co.,Ltd.,（hereinafter referred to as Miaokelando） by Inner Mongolia Mengniu Dairy （Group） Co.,Ltd.,as an example to deeply analyze the far-reaching impact of this merger and acquisition from the perspective of corporate strategic planning and competitiveness improvement. For example,at the operational level,Mengniu has significantly increased its product share in the southern market by virtue of its advantages in the cheese field. At the financial level, Mengniu successfully helped Microcolando get out of financial difficulties and significantly enhanced its capital liquidity. At the management level,Mengniu has introduced advanced management experience to Microcolando,which has effectively improved the standardization of its corporate governance. According to its effect,the paper further put forward suggestions：firstly,it is necessary to integrate the resources of both sides,integrate the business of both sides in a relatively short period of time,and realize the coordinated development of resources and business. Secondly,Mengniu,as a leading enterprise in China's dairy industry, has strong assets, and should improve the efficiency of its capital utilization, reduce the opportunity cost,and finally,the two sides should learn from each other,especially in terms of sales experience, and jointly promote the overall development of the enterprise by sharing market strategies and channel resources. Finally,in the third part of the paper,the effects and countermeasures of the merger and acquisition are summarized,and the industry impact and enlightenment brought by the merger and acquisition were discussed,hoping that these enlightenments can provide a useful reference and enlightenment for the mergers and acquisitions of enterprises in the dairy industry.

Key words: Inner Mongolia Mengniu Dairy （Group） Co., Ltd., （short for Mengniu）, Microcolando （Tianjin） Food Technology Co., Ltd., （short for Microcolando）, merger, synergies