The New Zealand Dairy Board (NZDB) is anxiously eyeing the details of a
rival bid from National Foods and Murray Goulburn for the Australian
dairy company Bonlac Food.
National Foods, an Australian dairy food company, presented its joint
plan with Murray Goulburn Cooperative to take over Bonlac Foods . The
joint proposal includes the purchase of Bonlac’s consumer products division
by National Foods’ for A$250m, while Murray Goulburn will acquire full control
of Bonlac for A$69.3m.
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NZDB spokesman Neville Martin said his company is looking at the details of
the National Foods-Murray Goulburn proposal but will not make any formal comment,
until Bonlac issues its response to the offer.
NZDB has an existing agreement for an alliance with Bonlac that would result
in the New Zealand dairy concern taking a 25% stake in Bonlac, but need the
approval of 75% of Bonlac’s member farmers. A vote by Bonlac farmers on the
NZDB deal at a meeting in April is likely to decide the fate of the company.
To read more about the options for Bonlac’s future, click here.
https://www.just-food.com/news_detail.asp?art=28037
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