Australia's National Foods expands
The Australian dairy group National Foods has signed an agreement to acquire the Dairy Farmer milk cooperative for A$884m. The company expects its share of the Australian raw milk market to rise from 37% to 63% as a result of the deal, while for yogurt its market share will increase from 27% to 55%. National Foods is a subsidiary of Kirin Holdings. The Japanese brewer acquired the company from San Miguel Corporation in November 2007.