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Dairy makes a brand name for itself
30 Aug 2004
Warrnambool Cheese and Butter Factory has achieved sales revenue of $10 million-$20 million with its first branded product, Sungold milk. Chairman David Karpin also said WCBF, which listed on the Australian Stock Exchange in May, has the balance sheet strength to spend about $35 million on an acquisition.
Mr Karpin is convinced there is going to be widespread rationalisation in the $8 billion dairy sector, and WCBF wants to be a player in that. He said the company's geographic position plus its low gearing level of 20 per cent put it in a strong position. Currently, WCBF is in fifth position behind Murray Goulburn Co-operative, Dairy Farmers, Bonlac Foods and National Foods. It mainly manufactures cheese, butter, cream and milk powders for other companies, which repackage the products under their own brands.
Australian Financial Review, 30/8/04.
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