Keytone Dairy to buy Australian Omniblend processor for A$22.4M

Mon, 17 Jun 2019

By Paul McBeth June 17 (BusinessDesk) - ASX-listed Keytone Dairy, which owns a dairy factory in Christchurch, will pay A$22.4 million in cash, shares and assumed debt for Australian powder processor Omniblend. The acquisition builds on its A$15 million initial public offering last year, when it raised funds to expand on its New Zealand manufacturing base. Keytone chair Peter James said Omniblend will immediately add to earnings and provide greater scale and a deeper product offering. "We believe that the combination of Keytone's exis...

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