National Foods is emerging as the likely winner of the bid to acquire the Dairy Farmers' Cooperative, in a deal worth close to $900 million.
According to today's Australian Financial Review, National Foods and bid partner Warrnambool Cheese and Butter were last night finalising the purchase of Dairy Farmers, which has been subject to a bid process which drew interest from numerous dairy companies from around the world.
If successful, the AFR says the new combined group would have a range of powerful brands including Dairy Coon and Cracker Barrel cheese, and Moove flavoured milk.
National Foods, a subsidiary of Japanese brewing giant Kirin Holdings, already owns the Pura milk and Berri juice brands.
But the bid is first subject to approval by the 2000-plus Dairy Farmers' shareholders.
The AFR says the new development puts an end to a stand-alone bid by Murray Goulburn.
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