Parmalat completes purchase of Nat Foods assets
Dairy firm Parmalat this week competed the $70 million purchase of assets from National Foods, which will boost their revenues in Australia by around 26 per cent.
The transfer of 12 National Foods depots in the NSW and ACT and 13 Dairy Farmers depots in South Australia, as well as the Lidcombe processing plant was made on Monday. The maker of Pauls milk also receives a 2 year licence to manufacture, distribute and sell the Daisy Fresh and Pura range of fresh white milk in NSW and the ACT along with a perpetual licence for the Oak and Just Natural flavoured milk brands in NSW, SA and the ACT.
The majority of Dairy Farmers’ fresh white milk brands in South Australia are also now under a perpetual license arrangement.
“This sale is in line with the undertakings given to the ACCC as part of the purchase and integration of Dairy Farmers by National Foods,” National Foods CEO and Managing Director, Ashley Waugh, said. ” The sale of the businesses marks another successful milestone in this process.”
The $910 million acquisition of Dairy Farmers by Kirin-owned National Foods was made in November last year.