Australian Dairy Farms updates on CDC Acquisition

Company News

Australian Dairy Farms Group (ASX:AHF) says its confident the acquisition of Camperdown Dairy Company will complete, despite a delay in the process.
 
The company says it has received numerous calls from investors concerned the acquisition may not go ahead, thus makes an ASX announcement to allay those concerns.
 
It says the delay has been frustrating and that AHF directors and their Aussie Farmers Direct counterparties as the vendors have been working in a mutually cooperative manner to resolve the remaining issue.
 
AHF says that since the execution of the acquisition contract CDC has expanded orders and delivered shipments of milk and yoghurt to new customers in China.
 
Australian Dairy Farms reported a net profit of about $300,000 at 31 December 2015.