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ProviCo, an Australian-based animal nutrition company, has announced the acquisition of the Dennington milk processing plant to Fonterra Australia.
Described as one of the leading companies in animal nutrition in the country, ProviCo is a manufacturer of feed and vitamin fortified products for farm animals.
According to sources, since the announcement of the factory closure back in May, Fonterra has been looking for a potential buyer for the Dennington factory since announcing its closure last May, with the aim of giving the plant a commercial and sustainable future, keeping all the assets and operational capabilities intact. René Dedoncker, Fonterra Australia managing director commented, “The sale creates a new chapter for the factory, which has been an important part of the Dennington community for more than 100 years”.
Andrew Paterson, managing director of ProviCo Australia said, “We had been looking to expand our range and capabilities for a number of years – either to build or to buy and existing facility as we had identified a gap in the market for some time. This will be the only factory of its kind in Australia as we seek to replicate what is already happening in the US and Europe”.
Sources: Food & Drink Business
