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Dairy Farmers sold to Japanese brewer
25 Aug 2008
A sweeping rationalisation of the east coast dairy industry is expected following National Food''s purchase of the NSW based Dairy Farmers co-operative. The deal is worth almost $900 million to bid partners, the big brewer Kirin from Japan who own National Foods and Warrnambool Cheese & Butter Factory control many of the most popular dairy brands in Australia. The deal is contingent on National Foods divesting and licensing several brands including Pura Milk to appease competition concerns. The National Foods/Warrnambool bid beat other bids from Canada''s Saputo while Fonterra and Murray Goulburn''s bid was rejected by the ACCC.
The Australian Financial Review, 25/08/2008
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