UK: Bright Food acquires Australian dairy Mundella - report
Bright "increasing presence in Australian dairy sector"
Chinese food giant Bright Food has reportedly snapped up a stake in Australian dairy Mundella Foods.
According to the Western Australian, the deal - which is yet to be confirmed - was foreshadowed by a shake-up in Mundella's management. Australian Securities and Investments Commission filings confirm that Mundella appointed directors from Manassen Foods, a Sydney-based dairy in which Bright holds a 75% stake.
Mundella is a dairy farming business that manufactures various probiotic products, including yoghurts and speciality cheeses. The group does not publish details of its production volumes or financial results.
Along with other Chinese dairy majors, Bright Food would appear to be working to increase its footing in the Australian dairy sector.
Chinese dairy makers are attempting to increase their exposure to Australian raw milk and processed dairy products in response to growing consumer demand on the mainland. The Australian dairy industry benefits from its geographical proximity and reputation for being a safer alternative to Chinese dairy products, which have been plagued by safety scares.
Bright Foods and Mundella were unavailable for comment at time of press.
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