Yili Group-owned Westland Milk has announced the acquisition of fellow dairy business, Canary Foods.
Based in New Zealand, Canary Foods is a butter and cheese supplier, catering to hospitality, foodservice and retail customers. The dairy business supplies to the New Zealand, Asian and Australian markets.
Under the deal, Canary Foods will become a subsidiary of Westland Milk Products, retaining its own brands and third-party manufacturing agreements.
Westland CEO, Richard Wyeth, said: “Canary is a fantastic fit for our business because it is so obviously based on a strong understanding of what our customers want and need. Their commitment to innovation, sustainability and quality in pursuit of consumer demands are values we very much admire and uphold.”
Wyeth added that the deal “extends our long-term commitment to add value to Westland’s butter portfolio by playing a greater role in the expanding global consumer butter and spread market”.
Canary Foods executive director and shareholder, James Gray, said the acquisition would give the Waikato-based dairy manufacturer more opportunities for expansion and to access global markets.
“Canary grew off the back of taking outstanding New Zealand dairy products to the world by catering for the airline and hospitality industries,’’ Gray said.
He added: “We used the Covid pandemic as an opportunity to reassess our strategy, and now, after record sales last year and with international travel and the hospitality sector set to take off, we are already in a strong position as these markets continue to bounce back’’.
The Westland Milk cooperative has not revealed the price of the acquisition.
© FoodBev Media Ltd 2022
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