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Thursday, 21 May 2009
AUS: Parmalat acquiring Kirin assets
AUS: Parmalat acquiring Kirin assets

By FoodWeek Online @ 9:31 AM 0 Comments Article Rating Manufacturing and Marketing News
 

Kirin Holdings subsidiary National Foods Ltd is to sell some of its dairy manufacturing operations to Parmalat Food Products as part of last year's $910 million acquisition of Dairy Farmers.

National Foods, which acquired Dairy Farmers last August, will sell a portfolio of fresh milk assets across New South Wales and South Australia, the company said in a statement.

The assets include the Lidcombe and Clarence Gardens manufacturing facilities, licences to market brands and distribution networks in NSW, South Australia and Australian Capital Territory.

The manufacturing operations had combined revenue of $200 million in 2007/08 and tangible assets of around $60 million.

Parmalat will make offers of employment to 95 per cent of employees working within the operations it will buy from National Foods.

Any employees in roles made redundant as a result of the sale would receive their full entitlements, National Foods said.

AAP

 

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