Agribusiness buzz in brief

Agribusiness buzz in brief


Agribusiness
Bubs Australia is set to buy Australia's biggest goat milk products business, NuLac Foods, which sources milk from 6500 goats in Victoria and New Zealand.

Bubs Australia is set to buy Australia's biggest goat milk products business, NuLac Foods, which sources milk from 6500 goats in Victoria and New Zealand.

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A quick look at some of the latest moves and news happening in the agribusiness sector

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Bubs to milk goat market

Newly-launched baby food and nutrition products company, Bubs Australia, will pay up to $38.4 million to buy the big Victorian-based goats milk product firm, NuLac Foods.

NuLac is Australia’s largest vertically integrated producer of goat milk products, including milk powders, fresh milk and yoghurt via the CapriLac and Coach House Dairy brands..

CapriLac Goat Milk products are made with milk from farms in the Gippsland and Hamilton in New Zealand, which together produce up to 6.2 million litres annually.

NuLac has more than 6500 milking goats supplying more than half of Australia’s total goat milk, plus 2000 in NZ.

The Bubs deal includes a 49.9 per cent equity interest in the dairy facilities producing NuLac Foods products including Uphamgo Australia, a CNCA certified producer of adult goat milk powder and related foods.

The acquisition does not include the farms, which will be contracted to continue supplying NuLac.

Stock and Station Agents Co-operative chief executive officer, Matthew Starr, welcomes National Credit Insurance Brokers CEO, Kirk Cheesman, to the Stockinsure fold.

Stock and Station Agents Co-operative chief executive officer, Matthew Starr, welcomes National Credit Insurance Brokers CEO, Kirk Cheesman, to the Stockinsure fold.

Stockies’ insurance group grows

The Stock and Station Agents Co-operative Limited (Stockinsure) has bought the trade credit insurance scheme and policies serviced by National Credit Insurance Brokers (NCI).

The move comes as the 23-year-old Stockinsure continues a push to take its trade credit insurance facility nationally, providing cash flow protection support for members.

Stockinsure’s specific systems relate to trade credit insurance cover and support members with insurance policies which link back to five trade credit specialist underwriters.

Stockinsure began administering the scheme on November 1, however the transition of NCI policies continues until the end of the month, by which time members will be contacted to have trade credit services and policy systems put in place by Stockinsure.

  • For more details contact Matthew Starr at Stock and Station Agents Co-operative (0434) 555 983.

Ruralco company secretary 

Ruralco has appointed Timothy Rowe as acting general counsel and group company secretary following last week’s resignation of Ilona Alsters.

Mr Rowe was previously deputy general counsel.

Ms Alsters joined the farm services group early last year having previously been vice president and general counsel at respiratory health equipment company ResMed Australia.

Lienert and Alltech unite 

South Australian stockfeed and animal nutrition producer, Lienert Australia, will move into partnership with sister company, Alltech Australia, from January 1.

Lienert, which was bought by the US-based Alltech in 2014, will be part of newly-formed umbrella group, Alltech Lienert Australia, which includes other local Alltech divisions, Keenan and Alltech E-CO2.

Alltech says the union aligns the offerings and services of both companies, simplifying their procedures, and will ultimately enhance the quality of service to customers.

The united business will be located at Lienert’s Roseworthy base in SA, and will continue providing the full range of Alltech products, services, nutrition programs and technologies in Australia.

“By uniting the companies, we will effectively be combining highly successful businesses in terms of resources and expertise, resulting in even better nutrition, health programs and services for our clients’ operations,” said Alltech Lienert Australia general manager, Mark Peebles.

Lienert began as a family supplier to pig producers 40 years ago, expanding to make and distribute stockfeed ingredients, supplements and nutritional expertise in Australia, New Zealand and the Philippines prior to being bought by Alltech, which has operated in Australia for 20 years and grown rapidly worldwide via acquisitions.

Apiam finalises Vic vet deal

Veterinary group Apiam Animal Health has completed the takeover of western Victorian rural practices, Terang and Mortlake Veterinary Clinic (TVMC), for a total consideration of $1.6 million.

As part of the deal Apiam issued 584,013 fully paid shares to the owners of TMVC at 82 cents each, with the balance paid in cash.

TMVC has six veterinarians and is a diverse practice predominantly servicing the dairy industry, but also active in the beef, equine and companion animal categories.

Apiam also announced a joint venture deal last week to operate veterinary services at premises operated by pet care retailer, Petstock.

The story Agribusiness buzz in brief first appeared on Farm Online.

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