A dairy giants has plans to swallow up a family-owned Canterbury company
A dairy giants has plans to swallow up a family-owned Canterbury company
25 October 2019
Dairy product exporter Synlait is asking the Overseas Investment Office for approval to buy Dairyworks - for 112 million dollars.
Dairyworks produce almost half the country's cheese.
Synlait CEO Leon Clement says the business is a great opportunity to expand their presence in the "everyday dairy" market.
He says it'll help them get the most value from their milk supply - and give access to the Australian market where Dairyworks is a rising star.
Dairyworks will continue operating as a standalone business - with its CEO reporting to Synlait.
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