Burns Philp eyes NZDF

AUSTRALIA/NEW ZEALAND – Yeast and natural food ingredient s manufacturer Burns Philp is considering purchasing New Zealand Dairy Foods Ltd (NZDF).

The Australia-based company is considering submitting a bid for NZDF as a continuation of its strategy to develop its business both by acquisition and focusing on a mix of ingredients business and consumer branded food.

Burns Philp is controlled by New Zealand’s richest man, Graeme Hart, and NZDF is 100% owned by entities associated with him. In a company statement Burns Philp said: “Any decision on this transaction would be subject to a report by an independent expert and the vote of Burns Philp shareholders not associated with Mr Hart.” NZDF produces a wide range of consumer dairy products mainly sold in New Zealand. These include Anchor, Fernleaf, Fresh ‘n’ Fruity and Chesdale. NZDF generated operating revenue across all of its businesses of NZD$477million (