Australian dairy company Barambah Organics has received investment from asset-management firm Tanarra Capital in exchange for an undisclosed stake.
Melbourne-headquartered Tanarra said in a statement the founders of Barambah Organics, Ian and Jane Campbell, will maintain “significant ownership in the vertically-integrated company, managing operations and supporting its growth strategy”.
Matthew Stanton, who formerly headed up Australia’s Accolade Wines, will join the business as CEO.
Media reports in Australia suggested the price is AUD50m (US$35.8m) for a “significant stake” in Barambah, although a spokesperson for Tanarra would not comment on what he called “purely media speculation” because the details are confidential.
Barambah started operations in 2002 and produces milk, yogurt, cream and cheese distributed in over 800 stores across Australia and also for export. It has manufacturing facilities in Goondiwindi, Queensland, and Raleigh in the Bellingen region of New South Wales.
Stanton told just-food: “Tanarra and myself are vey excited about joining the business and will continue to invest in the business to grow the reach of the brand as an award winning premium organic dairy business.”
Tom Forde, investment director at Tanarra, which has around AUD1.7bn of assets under management, said: “Barambah Organics is an authentic, progressive and responsible corporate citizen that upholds a high level of commitment to animal welfare and the local community and environment. The company will also continue to service its loyal customer base by maintaining its supply of carefully produced, high-quality and great tasting organic dairy products.”
Tanarra was founded by CEO John Wylie and also has offices in Sydney, Perth, Auckland, Tokyo and Hong Kong.