Open Country Dairy in New Zealand has agreed to acquire the Māori-owned dairy business Miraka for an undisclosed sum.
Both companies are engaged in milk processing to produce milk powders and dairy ingredients. Open Country Dairy also makes cheeses under its own brand, while Miraka offers its namesake line of UHT milk, as well as acting as a co-manufacturer.
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Mark de Lautour, CEO of Open Country Dairy, said the acquisition aligns with the company’s goal to increase its presence across the Central North Island.
Open Country Dairy operates four production facilities in New Zealand, located in Horotiu, Waharoa, Whanganui and Awarua.
The acquisition comes shortly after Open Country Dairy agreed to purchase Mataura Valley Milk from the A2 Milk Co. and China Animal Husbandry Group. That deal will add a fifth site to its manufacturing network located in Gore, New Zealand.
Miraka, meanwhile, owns a processing plant in Mokai, 30km north-west of Taupō.
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By GlobalDataDe Lautour said in a statement: “We really believe that our 100% NZ-owned company culture, strong customer relationships and scale makes this a good, strategic fit.
“If you look at where our plants are based, we already have a very strong presence in northern Waikato and Taranaki/Manawatu. Adding Miraka, which is geographically located in the middle of these two areas, gives us a solid footprint into the southern Waikato.”
Miraka will retain its brand name and continue operating under its own identity. Individual milk supply agreements will also remain unaffected.
Bruce Scott, board chair of Miraka, said in a separate statement that Miraka has “grown to become New Zealand’s second-largest Māori-owned [dairy] exporter” over the last 15 years.
He added: “However, there are significant challenges that come with being a standalone regional processor operating in a global market. Under Open Country Dairy’s ownership, our Miraka whānau will be part of a strong NZ-owned network serving the global dairy market.”
Miraka started operations in 2010 and exported its first batch of milk powder in August 2011.
The company, which also produces frozen milk concentrate and cream, has since expanded its production capabilities, processing approximately 300 million litres of milk annually.
