AUSTRALIA: Kiwi Co-op Dairies increases stake in Peter and Brownes Food, has "hands off" control
Peters and Brownes Food (PB) was given a A$92.4m boost last week as Kiwi Co-operatives Dairies became the processor's largest shareholder, increasing its stake from 54% to 68%. 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.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- Mondelez goes beyond certified cocoa - analysis
- What Premier CEO Gavin Darby thinks about Brexit
- How Tyson's new CEO plans to grow the meat group
- Nestle unveils process to cut sugar by 40%
- Putin 'wants embargo to run as long as possible'
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- McCormick to buy flavours business Enrico Giotti