As part of a consortium Freedom Foods Group Limited
(ASX:FNP) has inked a deal to buy one of Australia’s largest single-site dairy operations, located in New South Wales.
The health foods company will purchase Moxey Farms as part of three groups comprising The Australian Fresh Milk Holdings consortium.
Moxey Farms land portfolio covers 2,700 hectares and includes 3,700 milking cows, annually producing about 50 million litres of milk.
While the deal remains subject to a range of conditions Freedom Foods says the acquisition would provide it with access to a consistent and long-term supple of high quality milk.
Freedom Foods Group reported a net profit of $55.19 million in the first half of the 2015 financial year.
