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Freedom Foods to acquire Ringwood Mill for $5.9 mill

Freedom Foods has entered into an agreement with the Ringwood Group of Companies to acquire the business and assets of the Ringwood Mill for $5.9 million.

Earlier this month, Freedom Foods announced that as part of the Australian Fresh Milk Holdings, it would be jointly acquiring Australia’s largest single-site dairy operations, Moxey Farms.

But it doesn’t stop there, as the a2 milk company revealed it was one of two parties in a bid for the a2 Milk Company, a deal which has yet to be finalised. In early June, Freedom Foods also coughed up $16.6 million for 66,000 square metres of land at Ingleburn for a proposed new integrated Aseptic (UHT) production and logistics facility.

Ringwood Mill, based at Darlington Point in the Riverina district of New South Wales, operates a grain processing facility for the supply of milled flours and popping corn. The facility is a significant processor of popping corn in Australia and processes gluten free grains. It is approximately 32 kilometres from Freedom Foods’ allergen free cereal and cereal snacks facility at Stanbridge near Leeton.

The acquisition of the Ringwood Mill will enable Freedom Foods to expand its milling operations for internal use and external third party customers through increased capabilities and capacity, access to cost efficiencies and the ability to consider expansion into processing of other key grains. Freedom Foods will relocate its existing milling operations to the Ringwood Mill, providing for increased finished goods warehousing capabilities at its current operations.

Under the terms of the acquisition, Freedom Food will acquire assets located at the site including 7.5 hectares of land, several modern large and medium sized grain silos, flour processing plants, other machinery and equipment and buildings including an export container facility. Freedom Foods will also acquire raw materials including popping corn and maize. 

 

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