Freedom Foods Group Limited
(ASX:FNP) says the Australian Fresh Milk Holdings Consortium, of which its a member, will acquire the Moxey Farms dairy operations.
The food manufacturer says the deal will see the Moxey family continuing to manage operations and establishing a new farm management agreement with AFMH.
In return the Moxey family will acquire a strategic stake in AFMH.
Moxey’s General Manager Quentin Moxey says he’s pleased with the deal that will see the establishment of additional world class greenfield dairy operations in Australia.
Freedom foods will benefit from access to a consistent and long term supply of high quality milk.
Freedom Foods reported a net profit of $55.2 million in the first half of the 2015 financial year.
