increase font size
Murray Goulburn chief executive Gary Helou.
Murray Goulburn has bought Mitsubishi Corporation's remaining 24.1% in Tasmanian Dairy Products Co Pty Ltd (TDP) for A$4.8 million, taking 100% ownership.
TDP, one of Tasmania's largest dairy companies, processes about 25% of the state's milk.
MG managing director Gary Helou acknowledged Mitsubishi's collaboration with MG during its three years work to establish a "foundation footprint in Tasmania's dairy industry". "Mitsubishi will continue to be an important business partner for MG, following the acquisition," Helou said.
"Over the past decade, the Tasmanian dairy industry has grown strongly. With its rich dairy tradition and favourable climate for pasture based farming, Tasmania is an important, strategic dairy region for MG to have a strong presence in."
Earlier this year TDP suppliers were invited to join MG and become MG supplier-shareholders. This invitation was well received and from the start of 2015-16 season all milk supplied to TDP has come via MG's Tasmania suppliers who joined the co-op.
"We were pleased to be able to extend the benefits of our dairy co-op to Tasmania dairy farmers and we look forward to continuing to grow our supply base and production."
MG entered the Tasmania dairy industry in mid-2000 by buying Classic Foods (Edith Creek) and in 2011 it spent $80 million on a milk processing facility for TDP at Smithton.
TDP Smithton started production in 2012; it can process 250 million litres of milk annually. Last financial year, TDP processed 210 million L.
OPINION: Your old mate hears that at a recent China Business Summit, PM Christopher Luxon delivered a none-too-subtle "could try harder" report card on the red meat industry regarding its exports to China - particularly when compared to Australia.
More Australian states are embracing virtual fencing technology, opening growth opportunities for Kiwi companies like Halter.
Fonterra says its ongoing legal battle with Australian processor Bega Cheese won’t change its divestment plans.
Farmers in the Australian state of New South Wales will soon be able to use virtual fencing and herding technology to boost farm productivity.
Australian farmers advocate NFF says this year’s Federal Election will be a defining moment for Australian agriculture.
With the current situation in the European farm machinery market being described as difficult at best, it’s perhaps no surprise that the upcoming AgriSIMA 2026 agricultural machinery exhibition, scheduled for February 2026 at Paris-Nord Villepinte, has been cancelled.
The Meat Industry Association of New Zealand (MIA) has launched the first in-market activation of the refreshed Taste Pure Nature country-of-origin brand with an exclusive pop-up restaurant experience in Shanghai.
Jayna Wadsworth, daughter of the late New Zealand wicketkeeper Ken Wadsworth, has launched an auction of cricket memorabilia to raise funds for I Am Hope's youth mental health work.
As we move into the 2025/26 growing season, the Tractor and Machinery Association (TAMA) reports that the third quarter results for the year to date is showing that the stagnated tractor market of the last 18 months is showing signs of recovery.
DairyNZ chair Tracy Brown is urging dairy farmers to participate in the 2026 Levy vote, to be held early next year.
Beef + Lamb New Zealand (B+LNZ) is calling for nominations for director roles in the Eastern North Island and Southern South Island electoral districts.
