Murray Goulburn acquires Caboolture cheese brand as UDP collapses
Australia’s largest dairy co-operative Murray Goulburn has snapped up the Caboolture cheese brand from troubled dairy company United Dairy Power (UDP), as UDP has collapsed into receivership.
Murray Goulburn announced that it had acquired the Caboolture Cheese brand, a leading brand in the foodservice market, as well as some processing equipment, from UDP.
Caboolture is a food service market leading shredded mozzarella brand, mainly used in pizza restaurants.
“The strategic integration of the Caboolture brand into our growing food service business will strengthen MG’s position in this segment,” said Gary Helou, Murray Goulburn Managing Director. “The acquisition of the Caboolture brand forms part of our strategy to diversify our portfolio to higher value dairy foods, with the goal of providing sustainably higher farmgate prices to Murray Goulburn suppliers,” he said.
In February 2014, United Dairy Power was sold to Hong Kong businessman William Hui. But in November, financial partner Rabobank appointed new management of UDP and called in receivers.
The Company’s receiver manager has said that unless there is an unlikely sale of two dairy processing sites in South Australia in the next week, about 100 staff will be made redundant.
Victoria-based dairy company Warrnambool Cheese and Butter agreed on Friday to take milk from 40 South Australian dairy farmers who were left with nowhere to send their milk after UDP went into receivership.