Freedom Foods Group report AFMH to buy Coomboona Dairy

Company News

by Rachael Jones

Freedom Foods Group (ASX:FNP) reported today that Australian Fresh Milk Holdings have entered into agreements to purchase the Coomboona Dairy operation in Northern Victoria.

Freedom Foods Group has a 10 per cent equity shareholding in Australian Fresh Milk Holdings.

This will expand its production platform into Northern Victoria, to deliver sustainable production of high quality milk.

AFMH currently operates a fully integrated dairy farming operation, Moxey Farms, located in the Lachlan Valley, New South Wales.

With the acquisition of the Coomboona Dairy operation, AFMH will be the largest dairy producer in Australia with current operations forecasting over 150 million litres of production into 2019.

Freedom Foods plans to ulitilise the dairy output from Moxey Farm and Coomboona Dairy for its own Australia's Own Kid's Milk and other dairy products.

Shares in Freedom Foods Group (ASX:FNP) are trading 1.19 per cent higher to $5.12.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.