June 19, 2008
One of the rivals to New Zealand's Fonterra for Australia's Dairy Farmers says it will split up Dairy Farmers if it succeeds in buying it. Italian dairy company Parmalat, in combination with Victorian co- op Murray Goulburn, has told the Australian Competition and Consumer Commission that it would form a new firm, to be 51%-owned by Parmalat, which would merge the fresh milk businesses of Dairy Farmers, Parmalat and Murray Goulburn. The Goulburn- Parmalat venture, the Kirin- owned National Foods and Fonterra are considered the leaders to buy Dairy Farmers.
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