Trade Resources Company News Parmalat Is in Negotiations to Takeover Australian Beverage and Harvey Fresh

Parmalat Is in Negotiations to Takeover Australian Beverage and Harvey Fresh

Italian dairy firm Parmalat is in negotiations to takeover Australian beverage and dairy products maker Harvey Fresh in a more than A$100m ($94m) deal.

Headquartered in Western Australia, Harvey Fresh produces and markets fruit juices and dairy products, including cheese, yoghurt, cream, chutneys, spreads and wine.

The company exports its products to countries such as China, Indonesia and Malaysia.

A source familiar with the matter was quoted by The Wall Street Journal as saying that the talks between the two companies are not yet exclusive.

West Australian financial services firm Pendulum Capital is believed to be providing advisory services to the family-owned company over the potential sale.

If the deal is concluded, it would reportedly boost the contribution of Australian region to Parmalat's EBITDA. 

Source: http://dairyproducts.food-business-review.com/news/parmalat-mulls-acquisition-of-australias-harvey-fresh-201113
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Parmalat Mulls Acquisition of Australia's Harvey Fresh