TasFoods Group acquires Pyengana Dairy
Jon and Lyndall Healey have announced they will be selling Pyengana Dairy to ASX-listed Launceston based group TasFoods.
“After 25 years of running our family dairy business, we have decided to hand over the reins to a new company who will help the business to grow,” says Jon Healey.
“My family have been cheese making and dairy farming in the Pyengana Valley of North East Tasmania for over 100 years and four generations. Our decision to sell has not been made lightly and I am delighted to be able to continue to work with the new owners TasFoods who are committed to honouring the heritage of our brand and products.”
TasFoods will pay $1.55 million (subject to certain post-completion adjustments) to acquire the assets of the business, take a lease over the factory and assignment of a milk supply contract with the adjacent dairy farm. All staff will be offered employment with the TasFoods Group.
“Pyengana Dairy fits perfectly within our premium Tasmanian brand strategy,” says TasFoods CEO Jane Bennett.
“The Pyengana cloth-bound cheddar is one of the most recognised and celebrated premium cheddar cheeses in Australia and the Real Milk brand has a strong and loyal following in Tasmania.”
Pyengana Dairy Company has grown to produce over 30 tonnes of award winning cloth-bound cheddar cheese per year and 800,000 litres of Real Milk. The cheese is sold in leading retail outlets and restaurants across Australia and Real Milk is sold across Tasmania in retail stores and cafes.
Image credit: Tasmania for everyone