National Foods, the Australian group, has reportedly proposed to offload two milk processing plants in a bid to win clearance for its proposed bid for Dairy Farmers.
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According to a Reuters report today (9 July), Australia’s competition watchdog has announced National Foods’ plans, which would see the company sell off plants serving New South Wales, South Australia and the Australian Capital Territory.
National Foods has also outlined plans to licence the rights to certain brands of milk and flavoured milk in those markets, the report said, citing the Australian Competition and Consumer Commission.
The company, which is owned by Japanese conglomerate Kirin Holdings, is a member of one of two consortiums left in the race for Dairy Farmers.
National Foods has proposed to make a joint bid with Australian cheese maker Warrnambool Cheese and Butter Factory.
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By GlobalDataItalian dairy giant Parmalat and local co-operative Murray Goulburn are the rival bidders for Dairy Farmers, which has been valued at up to A$1bn (US$953.2m).
