TasFoods has sold its former Betta Milk processing site in Tasmania for $2.4 million.
The company said it would use the proceeds from the sale to reduce its NAB term debt, grow its Pyengana Dairy business, and improve operational efficiencies at Nichols Poultry.
Last year, the Australian Competition and Consumer Commission (ACCC) said it wasn’t opposing Bega Cheese’s acquisition of Betta Milk and Meander Valley Dairy from TasFoods.
TasFoods reported net loss of $2.1 million in the first half, improving from $3.8 million in the year-ago period.
Meanwhile, its revenue increased 2.2 per cent to $24.5 million.
