Dairy Farmers Chairman Ian Langdon says the change in ownership of the business to National Foods, a wholly owned subsidiary of Kirin Holdings, has heralded the beginning of a new era in Australia’s dairy sector.
Langdon, who, along with other directors, has resigned from the Dairy Farmers Board following the takeover, says the acquisition of the business will have a positive impact on Dairy Farmers’ shareholders as well as the broader industry.
“As a result of shareholders’ overwhelming support for the proposal, hundreds of millions of dollars in shareholders’ equity will be unlocked and returned to dairy farmers across Australia,” he said. “This injection of capital on farm stands to have a positive impact in the short-term and further into the future. National Foods will become Australia’s largest domestic dairy player in revenue terms.
“The change in the ownership of the Dairy Farmers business is the culmination of a journey that began in 2004, when our members voted overwhelmingly in favour of change.”
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