Settlement Date for CDC Acquisition Friday 15 April 2016
Australian Dairy Farms Group (AHF) provides this brief update on the status of the proposed acquisition of the shares in Camperdown Dairy Company Pty Ltd for the information of investors and the market.
On 29 December 2015, AHF announced to ASX the execution of contracts for the acquisition of the whole of the issued capital in Camperdown Dairy Company Pty Ltd (CDC).
Directors are pleased to confirm that the remaining conditions precedent to settlement have now been satisfied and the vendor and purchaser have confirmed that completion will occur on Friday 15 April 2016 at Melbourne.
The parties to the contract have continued to work in a very cooperative manner and are pleased to be able to finally set a completion date. Both the vendor Aussie Farmers Direct and CDC recognise that they have significant continuing customer / supplier relationships and the value of working closely together.
During the last week AHF board members have been in South West Victoria meeting with the management of the Group’s farms as well as having strategy meetings with the management of CDC.
Soon after completion, the directors expect to release a comprehensive announcement regarding the ways in which the combined CDC and AHF businesses can take advantage of the significant synergies of having a fully vertically integrated operation, particularly focussed on taking high quality dairy products from farm to processing for supply to domestic and international supermarket shelves.
The size and flexibility of the CDC processing facility has already proved to be very nimble and adaptable to customer needs and is in a very strong position to achieve growth in high value add products across a wide range of produc
AHF Price at posting:
28.0¢ Sentiment: None Disclosure: Held
