After being placed in receivership two weeks ago and with a new managing director appointed by Rabobank, a number of dairy companies have expressed an interest in buying Five Star United Food (Aust) Pty Ltd, owner of United Dairy Power.
Interested buyers — which may include Fonterra, Murray Goulburn, Bega Cheese and Warrnambool Cheese and Butter/Saputo — have until 15 December to lodge an expression of interest in the dairy company.
Five Star United Food (Aust) managing director Marcus Derwin will then assess whether it is worthwhile selling the business.
Mr Derwin has been meeting Victorian dairy farmers supplying milk to the processor last week and today and will address South Australian suppliers later this week.
The Weekly Times was told a sale of the business is the most likely outcome, probably early next year.
UDP processes about 200 million litres of milk at plants in Victoria and SA.
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