Dairy Farmers Milk Co-operative (DFMC) has informed members that Lion has decided to sell Lion Dairy & Drinks (LDD) following a strategic review of its business.
Executive Officer Mark Kebbell said that the interests of DFMC’s members were central to DFMC’s concerns and that Lion had indicated a sale would best position their business to grow and take advantage of consumer wellness trends.
“DFMC has a long-standing and mutually beneficial relationship with the core business behind LDD,” said Mark.
“Over the years the business has changed ownership a number of times and transformed to take advantage of market opportunities.
“We will work with any future owners of the business to support their success because we want the milk that our farmers supply to be processed and marketed effectively.”
He added that DFMC farmers were proud of their relationship with Lion and the brands they supplied including ‘Pura’ and ‘Dairy Farmers’ white milk as well as popular flavoured brands such as ‘Dare’, ‘Farmers Union’, ‘Big M’ and ‘Masters’.
Similar sale processes have taken between 6 and 12 months to conclude. With the sale process now underway, business will continue as usual in the interim.
Lion CEO Stuart Irvine said, “The sale process will focus on finding the right owner to take LDD forward and unlock its full potential.”
DFMC will continue to communicate any issues or outcomes with its members as they arise and any questions should be directed to Executive Officer Mark Kebbell and the Board.