Forget about another share trading review
Former Fonterra director Nicola Shadbolt says the recent collapse of a few dairy cooperatives should be blamed on their strategy, not their co-op structure.
Kyvalley Dairy Group has agreed to buy the Kiewa Country brand and plant from MG.
Kyvalley says the deal will see “an iconic brand remain not only in Australian hands but in Northern Victorian hands”.
Kyvalley Dairy Group is owned by brothers, Wayne, Peter and David Mulcahy, the fifth generation of a family that has been part of the Australian dairy industry for 160 years.
Kyvalley says the Mulcahy family understand the importance of a strong dairy industry together with supporting farmers and jobs for regional Victoria; they employ 120 staff and are growing domestically and internationally.
Peter Mulcahy says Kyvalley Dairy believes in the Australian dairy industry and investing in its future. “With the purchase of Kiewa Country, we are continuing our support of local communities.”
Kyvalley Dairy chief executive Alastair McCredden says as a family owned fresh milk business the purchase provides an opportunity to relaunch a cherished brand and continue jobs growth in regional Victoria.
The acquisition supports regional growth in Northern Victoria and will provide Kyvalley Dairy the opportunity to increase supply of fresh milk domestically and internationally and will boost the Australian dairy industry.
