Parmalat Acquires Australian Dairy Firm
01 April 2014 --- Italian food group Parmalat has announced it has brought Australian dairy firm Harvey Fresh in a 79m euro deal, strengthening its position in Australia and boosting export opportunities into Asian markets.
Parmalat has a global presence with operations in Europe, Latin America, North America, Australia, China and South Africa. The company specializes in UHT milk and milk derivatives, such as yoghurt, cheese butter and ice cream. In Australia Parmalat is already a major manufacturer of dairy products, with a host of brands including Pauls dairy brand, Vaalia yogurt, Ice Break, Oak and Breaka.
Harvey Fresh is a family-owned Western Australian fruit juice and dairy processor with a 30-year history in the region. It is Western Australia’s second largest dairy producer.
The acquisition helps Parmalat extend its reach into Western Australia, and reports state that the deal also helps the company’s capacity to export to Asian markets. Parmalat has indicated it will retain the Harvey Fresh brand on milk, cheese, cream and juice products.
Parmalat’s ceo Craig Garvin said the company sees a lot of growth potential in Harvey Fresh. “There is strong capability here for export,” he said.
