OnCard International (ASX:ONC) will acquire Tasmania's Meander Valley Dairy from the Dornauf family for $2.1 million.
In a change of direction for OnCard it will become a producer of premium cream and dairy products from the Meader Valley processing facility located near Launceston.
Australia's dairy farmers are lapping up the strong demand in Asian markets with strong investment from China.
While not a large producer, Meander produces double cream, butter and buttermilk; with investment this range could presumably be broadened to meet demand from China for secure access to safe liquid milk and infant formula.
Revenue for the financial year was $1.34 million and net profit before tax was $0.11 million.
The vendors will receive $300,000 of consideration in shares and the balance paid from retained earnings.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.185M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1951838 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 650223 | 3 |
View Market Depth
| Last trade - 16.21pm 08/08/2025 (20 minute delay) ? |
| TFL (ASX) Chart |
Day chart unavailable