AUSTRALIA: Kiwi Co-op Dairies increases stake in Peter and Brownes Food, has "hands off" control
PB, based in Western Australia (WA), welcomed the cash injection as evidence that Kiwi is confident in the efficiency and productivity of the Australian dairy sector. Managing director Graham Laitt explained that Kiwi would adopt a "hands off" management style and said that the company would now be able to expand export operations, as the cash injection would be used to retire debt.
Kiwi's input is expected to be a positive. The New Zealand based company insists that it has no plans in the short term to focus its operations in WA, but that it has expressed much interest in the area, identifying seven innovations WA farmers may employ to increase efficiency.
Laitt added the suggestion that he may be looking to increase his own stake in the company following the resolution of a long running dispute with his former business partner.
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