#Fonterra buys Aussie yoghurt company

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Fonterra is moving deeper into the Australian dairy products market with the acquisition of Tasmanian yoghurt company Tamar Valley Dairy.
The New Zealand dairy giant said it would buy the processing equipment, related services, intellectual property and trademark for the Tamar Valley Dairy brand.
The purchase was expected to take effect at the end of the month.
Fonterra Australia managing director Judith Swales said Fonterra planned to invest further in Tamar to improve production, quality and safety systems.
Fonterra was a longstanding partner of the family-owned company, she said.
The Tamar site would be integrated into Fonterra’s Australian manufacturing business.
This would create greater efficiencies while retaining Tamar’s innovation and Tasmanian origin, Swales said.
«Acquiring the Tamar Valley Dairy yoghurt business is an important step in strengthening Fonterra’s strong national position in the chilled dairy segment in Australia, and complements our existing yoghurt portfolio.»
She said Fonterra held a market-leading position in mainstream yoghurt products through the Nestle Ski brand.
«Tamar Valley Dairy has a strong future. We see tremendous opportunities to build a sustainable, competitive business for the long term,» she said.
Fonterra operates two manufacturing facilities, at Spreyton and Wynyard, in Tasmania, and processes more than half of Tasmania’s milk.
Fonterra last week bought a 6 per cent shareholding in Australian company Bega Cheese for $A45 million (NZ$52.71m).
Fonterra chief executive Theo Spierings said Australia was an important market for New Zealand’s biggest company and the world’s leading dairy exporter.
It was committed to boosting an already strong presence across the Tasman, he said.
«There has recently been a lot of consolidation activity in the Australian dairy industry. It is important that Fonterra participates, and we have confidence in Bega and the strategy it is pursuing,» he said.
Fonterra already has a relationship with Bega. It licenses the Bega brand from the Australian dairy company and has a substantial cheese supply contract with it.
 
Source: Stuff

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