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CHINA FOOD PRODUCER ACQUIRES AUSTRALIA'S SECOND LARGEST DAIRY
BrownfieldAgNews reports:

The second-largest food producer in China is buying a second Australian dairy company.

Bright Food Group has signed a deal to buy Mundella Foods, a 40-year-old western Australian cheese and yogurt company. Bright bought 75% of Australia's Manassen Foods in 2011, Mundella will become a wholly-owned subsidiary of Manassen.

Terms of the deal were not disclosed.

This is the latest in Bright Foods' plan to expand its major business areas: dairy, wine, sugar and branded food products in Australia, New Zealand and Europe. The state-backed company owns French wine merchant Diva Bordeaux and British cereal maker Weetabix and is in talks to purchase Israel's biggest food company.

Meanwhile the bidding-war continues for Australia's oldest dairy Warrnambool Cheese and Butter. Canada's Saputo has offered A$515 million while Australia's Murray Goulburn's offer of A$530 million awaits regulatory approval.

Although a higher bid, some question as to whether Murray Goulburn can actually afford to make the offer.


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