Parmalot subsidiary, Parmalat Australia, has acquired the specialty dairy processor Longwarry Food Park in Victoria, Australia for $67 million. Longwarry Food Park produces milk powder, cream cheese, and fresh and UHT milk products. The acquisition will support Parmalat’s milk supply, will further support the company’s position in the Australian market, will improve the company’s export potential, and will be the vehicle through which the company enters the milk powder market. Currently Parmalat operates in the milk, dairy product, and fruit beverage sectors. The deal will be subject to approval by the Foreign Investment Review Board.
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