FONTERRA Australia today finalised the purchase of the assets of Tasmanian yoghurt business Tamar Valley Dairy.
Under the terms of the sale, Fonterra has acquired the processing equipment, the related services, and intellectual property and trademark for the Tamar Valley Dairy brand.
The purchase will see 122 positions of the Tamar Valley Dairy workforce transition to Fonterra to ensure continuity of operations and the long-term sustainability of the business, but 18 roles not required and have been made redundant by the Administrator.
“This is a positive result for Tamar Valley Dairy, the workforce and the community. We are now working hard to fully integrate Tamar Valley Dairy into our manufacturing footprint to create greater efficiencies and scale,” said Judith Swales, Fonterra Australia managing director.
“We see tremendous opportunity going forward. We will continue to work closely with all stakeholders to provide stability and continuity for the business, the wider community and maintain Tamar Valley Dairy’s history of innovation.”
In Tasmania, Fonterra currently operates two manufacturing facilities at Spreyton and Wynyard, is responsible for processing half of Tasmania’s milk, collecting over 500 million litres of milk from almost 260 dairy farms each year, and employs 220 people.
