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Australian Dairy Nutritionals completes baby milk plant purchase

Australian Dairy Nutritionals Group will complete its previously announced acquisition of an organic infant formula facility by Aug. 27.

Financial details of the transaction were not disclosed.

According to an Aug. 26 release, the infant formula and nutritionals mixing plant has gained full customs and Australian Quarantine and Inspection Service clearance and has now been relocated to Camperdown, Victoria.

In the same announcement, the company also said it has formed a joint venture with premium milk distributor Jonesy's Dairy Fresh. The deal will see Jonesy's transfer its business assets into a new trading company named Jonesy's Distribution Pty Ltd., which will be 50% owned by Australian Dairy and 50% owned by Jonesy's founders Rhonda and Wayne Somerville.

The assets to be transferred include Jonesy's Dairy Fresh brand and associated distribution intellectual property; long-established supplier relationships with cafes, restaurants and retailers; premium quality brands and products; and delivery systems and infrastructure.

In addition, Australian Dairy-owned subsidiary Camperdown Dairy Co. will inject a working capital of up to A$100,000 into the joint venture via a loan facility and will also provide milk and dairy products.