CHINESE FIRM BUYS WA'S MUNDELLA FOODS
SYDNEY, Jan 17 AAP - China's Bright Food Group Company has bought Western Australian dairy company Mundella Foods.
The state-owned Chinese conglomerate purchased Mundella through its majority-owned Australian subsidiary, Manassen Foods.
Mundella, established in 1974, makes yoghurt, cheese and probiotic yoghurt drinks.
The price paid for Mundella has not been disclosed, with a Bright Food spokesman reported as saying the price would depend on an audit of Mundella's 2013 results.
The deal comes as a takeover battle for Victorian dairy processor Warrnambool Cheese and Butter nears its conclusion, with Canada's Saputo the likely victor.
SAPUTO EDGES CLOSER TO WARRNAMBOOL WIN
SYDNEY, Jan 17 AAP - Canadian diary company Saputo is creeping closer to taking control of Victorian dairy processor Warrnambool Cheese and Butter, announcing on Friday it now holds 46.17 per cent of Warrnambool shares.
Saputo's bid received a major boost on Thursday when Bega Cheese, which was previously a bidder for Warrnambool, announced it would sell its 18.8 per cent stake to Saputo for between $95 million and $101 million.