Murray Goulburn has snapped by the foodservice-focused cheese brand Caboolture from fellow Australian dairy group United Dairy Power.
In a letter to Murray Goulburn's farmer-members, MD Gary Helou said the co-operative had acquired "a leading brand in the foodservice market". Caboolture is a mozzarella brand, mainly used in pizza restaurants. Financial details were not disclosed.
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"The strategic integration of the Caboolture brand into our growing foodservice business will strengthen MG's position in this segment," Helou said. "The acquisition of the Caboolture brand forms part of our strategy to diversify our portfolio to higher-value dairy foods, with the goal of providing sustainably higher farmgate prices to MG suppliers."
Officials at Murray Goulburn had not responded to a request for further comment at the time of writing.
