Saputo, a leading global dairy firm, has announced that it has reached an agreement to acquire its Australian counterpart Murray Goulburn for a purchase price of A$1.31 billion ($1.0 billion) on a debt-free basis, subject to shareholder approval and regulatory clearance. Murray Goulburn produces a full range of dairy products, including milk drinks, milk powder, cheese and butter, as well as a range of ingredient and nutritional products, such as infant formula. …
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Murray Goulburn
Murray Goulburn, Australia’s largest dairy foods company, has posted a loss of A$31.9 million ($24.5 million) for the first half of its financial year. The firm booked 14.8% less revenue compared to the same period a year ago, attributed to lower supplies, production cuts on farms and adverse seasonal conditions. According to Murray Goulburn CEO Ari Mervis: “Record rainfalls and high levels of competitor activity have reduced our milk intake, …
Dairy cooperative Murray Goulburn has signed a deal to become the supplier of private label cheese products to supermarket chain Coles from 2017, according to a report in Australian Food News. Commenting on the deal, Murray Goulburn said: “The contract includes the supply of a range of Coles brand cheddar-style cheese including tasty, colby, mild and light cheese in blocks, shreds and slices for Coles supermarkets across Australia. The national …
It has been announced that Parmalat has won a five-year contract “to supply Woolworths’ private label milk in NSW and South Australia”. According to Food and Drinks Business News, the company was the successful contender a $100 million battle for the Woolworths’ private label brand contract after edging out rivals Lion and Murray Goulburn. Lion is said to have retained the contract in Tasmania. The Australian also report that the …
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