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November 30, 2016

Australia’s Brownes Dairy lined up for sale

Australia's Brownes Dairy is understood to be up for sale again – just over a year after earlier proposals to put the firm on the market were shelved.

Australia’s Brownes Dairy is understood to be up for sale again – just over a year after earlier proposals to put the firm on the market were shelved.

According to reports in the Australian financial press, the owner of Brownes, private-equity firm Archer Capital, has appointed investment bank Moelis & Company to look into options for selling the dairy business in the new year.

A spokesperson for Moelis & Company told just-food: “We have no comment on the reports”. Archer Capital did not respond to requests for comment.

Archer Capital acquired Brownes Dairy in 2011 from Fonterra.

Speaking to Australian broadcaster ABC in July 2015, Brownes’ managing director and CEO, Tony Girgis, said: “Will Brownes be sold at some stage? Most likely yes. When and to whom and for how much, I have no idea. When the stars align it will happen. It will be good for the supplier base and staff. Certainty is good and no-one likes uncertainty.”

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