Warrnambool Cheese and Butter to take over Dairy Farmers
Posted
Warrnambool Cheese and Butter has been given approval to jointly take over a large dairy cooperative.
The south-west Victorian company is involved in a joint venture with National Foods to acquire Dairy Farmers, which manufactures popular cheese brands.
The Australian Competition and Consumer Commission (ACCC) has ruled the takeover will not be anti-competitive as long as National Foods sells several milk factories in New South Wales.
Warrnambool Cheese and Butter's chief executive, Neil Kearney, says the company is now a step closer to the takeover.
"The ACCC were a very important step, it's a requirement in an acquisition of this size to have ACCC approval and for the National Foods and Warrnambool Cheese and Butter bid that approval is now in place," he said.
