Parmalat buys Longwarry Food Park

Dairy giant Parmalat’s Australian arm has purchased Longwarry Food Park, an Australian company specialising in the dairy sector. Longwarry Food Park operates in the state of Victoria and is specialized in the production of milk powders, cream cheese, plus fresh and UHT milk products.

The firm has grown significantly over recent years and is now a well recognized supplier of fresh and commodity milk products. It has a single production facility (Longwarry, Victoria) with approximately 50 employees. Last financial year the company reported revenues of approximately €60 million.
The stipulated enterprise value of the acquired business is approximately €45 million. With this transaction, the Parmalat Group further strengthens its position in the Australian market, broadening its manufacturing base in that country, enters the milk powder market and supports its overall milk supply base, according to the company. It also improves Parmalat Australia’s export capability.