Italian dairy group Parmalat has moved to increase its presence in Australia with the acquisition of local dairy and beverage firm Harvey Fresh for EUR79m deal (US$108m).

Parmalat, which is majority owned by French dairy giant Lactalis, said the acquisition “improves the group’s export capabilities to the Asiatic markets”.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

There was speculation late last year that Parmalat was in talks to buy Harvey Fresh.

The Australian firm operates in the state of Western Australia, where Parmalat has a marginal presence, and produces fresh and UHT milk dairy products, in addition to a significant business in the fruit beverage market. In that area of the country, Harvey Fresh is the second-largest producer in the dairy sector. This company owns two production facilities with approximately 250 employees.

Last financial year, the company reported revenues of about EUR113m.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now