August 4, 2015

 

Sino-Australian dairy deal finalised

 

 

Australian Fresh Milk Holdings (AFMH), the Sino-Australian dairy consortium comprising Leppington Pastoral Company, New Hope Dairy Holdings and Freedom Foods Group, has completed its acquisition of the US$73 million Moxey Farms.

 

Moxey Farms, one of Australia's biggest single-site dairy operation, runs a 2,700-head farming operation in the Lachlan Valley near Gooloogong, 340 kilometres west of Sydney. The facility occupies 2,700 hectares and produces about 50 million litres of milk annually.

 

The Moxey-Perich joint venture, a joint venture between the Moxey and Perich families, is also now officially part of a farm management agreement with the newly formed AFMH.

 

Early last year the Moxeys began reviewing their operations with the aim of finding a strategic partner to assist with their new growth stage. The review included considering taking on equity partners from overseas to help fund the company's expansion plans.

 

"We are pleased to partner with AFMH on the development of Moxey Farms and the establishment of additional world-class greenfield dairy farming operations in Australia," general manager Moxey said.

 

The consortium agreement allows AFMH to leverage Sydney-based Freedom Foods' processing capabilities and New Hope Dairy's Asian footprint to access export markets in China and Southeast Asia.