Brownes Dairy has been put up for sale as its Chinese lender, Mengniu Dairy Co, called in its $200 million loan, the Australian Financial Review (AFR) reports.
Established in 1886, Brownes Dairy is one of Australia’s oldest dairy companies and the largest milk producer in Western Australia. It employs roughly 300 people and has annual sales of nearly $300 million. It also sells a range of cheese, yoghurt, and coffee nationally through Coles, Woolworths, and IGA.
The company’s biggest lender, Mengniu Dairy Co, has appointed McGrathNicol’s Keith Crawford for the sale.
“We are engaging with key stakeholders to commence an orderly sale process for the iconic Brownes Dairy.
“As our appointment is limited to holding company shares only, we do not anticipate any impact on day-to-day operations,” Crawford told AFR.
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