Dairy processor Murray Goulburn Co-operative has increased its shareholding in fellow processor Warrnambool Cheese and Butter to 14.5 per cent, up from 12 per cent.
The move comes after Murray Goulburn secured a 10-year contract with the supermarket Coles.
But in a statement, Murray Goulburn managing director Gary Helou says the company has no intention of making a fresh takeover offer for WCB.
The co-operative tried to take over WCB several times in 2010 without success.
Murray Goulburn supplier Roma Britnell, from Woolsthorpe, welcomes the extra investment in south-west Victoria.
«I think it shows the strength and the confidence that the Murray Goulburn team have in our industry and I think it’s very exciting.»
Source: ABC.net
