Wattle Health Australia Limited Enters into Joint Venture with Organic Dairy Farmers of Australia Limited
Wattle Health Australia enters into joint venture with Organic Dairy Farmers of Australia (“ODFA”) and Niche Dairy Pty Ltd (“Niche Dairy”) to design, construct and operate a dedicated Organic Spray Drying Facility in Australia.
- Under the joint venture, Wattle Health Australia will have a 45% ownership interest with ODFA a 50% ownership interest and Niche Dairy a 5% ownership interest, to form Corio Bay Dairy Group Pty Ltd (“CBDG”).
- Wattle Health Australia and Niche Dairy will provide funding for the construction of the spray drying facility via interest bearing loans to CBDG.
- ODFA, the largest supplier of fresh organic milk in the Australian marketplace, has entered into a minimum supply agreement with CBDG for the supply of up to 46 million litres p.a. of fresh organic milk.
- Wattle Health Australia has the first right to purchase the dried products produced by CBDG.
- Through the joint venture, Wattle Health Australia becomes one of a few nutritional dairy companies to have access to vertical integration, from the farm to consumer.
10 April 2018: Wattle Health Australia Limited (ASX: WHA) is pleased to announce it has entered into a conditional joint venture (JV) arrangement with Organic Dairy Farmers of Australia Limited (ODFA) and Niche Dairy Pty Ltd (Niche) to form Corio Bay Dairy Group Pty Ltd (CBDG).
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