Alleys Group-owned Open Country Dairy (OCD) says it is buying Taupo-based Maori-owned Miraka Dairy.
The deal is for 100% of the company.
This deal comes hard on the heals of Open Country Dairy buying Mataura Valley Milk from A2 Milk two weeks ago.
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Open Country CEO Mark de Lautour said the opportunity to purchase Miraka happened quickly and made sense for the business.
Open Country currently operates four dairy ingredient manufacturing sites around New Zealand, located in Horotiu, Waharoa, Whanganui and Awarua. It will soon add a fifth site, Mataura Valley Milk near Gore, once its conditional acquisition agreement with current shareholders is finalised.
But the mid-North Island Miraka purchase will allow OCD to improve its milk collection processes, allowing it to “realise some important efficiencies.”
Talleys Group is building a large-scale dairy business with these acquisitions and will be an increasing challenger to Fonterra.
Yili, the giant Chinese food company, owns Oceania Dairy, and Westland Milk, and is probably the second largest after Fonterra. But with the Miraka purchase, Talleys will be close to claiming that position.
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