Freedom Foods confirms Coomboona Dairy deal
Freedom Foods confirmed that Australian Fresh Milk Holdings, in which it owns a 10 per cent stake, purchased the operation in Northern Victoria.
The acquisition will expand AFMH’s production which will leverage on delivering sustainable production of high quality milk, supporting a range of value added product opportunities.
Currently the dairy business operates Moxey Farms in Lachlan Valley, New South Wales. Freedom Foods said the acquisition propels AFMH as the largest dairy producer in Australia with current operations forecasted to produce over 150 million litres in 2019.
Freedom Foods is now utilising a proportion of the dairy milk output from Moxey Farms and Coomboona Dairy for it’s Australia’s Own Kid’s Milk and other dairy products. As part of the acquisition, Freedom Foods contributed A$4.6 million in equity funding, based on its 10 per cent equity shareholding.