ADELAIDE HILLS-BASED CHEESE MAKERS PARTNER WITH JAPANESE GROUP FOR $14.4 MILLION
Written on the 13 October 2017 by David Simmons
ADELAIDE Hills-based artisan cheese company Udder Delights has partnered with Japanese dairy company Snow Brand in a $14.4 million partnership.
Snow Brand has taken over a restructured Udder Delights Australia, and will keep husband and wife duo Saul and Sheree Sullivan (pictured) in their respective roles of managing director and chief executive of the business.
Under the $14.4 million deal the Japanese company Snow Brand will take 90 per cent ownership over Udder Delights, with the Sullivans retaining 10 per cent.
Mr Sullivan says the acquisition deal will allow Udder Delights to expand further.
"We are really excited to announce and introduce Udder Delights Australia, a company which will take us to new heights, with the partnership and financial backing allowing us to create new products, services, and innovations; and provide greater opportunities for our staff, suppliers and valued customers," says Sullivan.
"It will be business as usual for our team, and Sheree and I, as we continue to make the very best cheese in the pristine Adelaide Hills.
"With the support of such an experienced and like-minded global industry pioneer, we have the opportunity to make some of our wildest dairy dreams come true."
Snow Brand's Japanese arm, Megmilk, has been making cheese and butter for 90 years in Japan. In 1990, Snow Brand arrived in Australia, opening its Unicorn, Nowra Farmhouse, and Flinders Estate brands, which specialises in white mould cheeses.
The Sullivans will retain full ownership of the popular Udder Delights Cheese Cellar on Hahndorf's main street.
With the retirement of Sheree Sullivan's father, Trevor Dunford, who co-founded Udder Delights in 1999, the Sullivans saw this moment as the best time to partner with an experienced and powerful player in the industry.
"We were at a critical juncture in our business and my father's pending retirement presented us with an opportunity to work with a new business partner," says Sheree Sullivan.
"It's humbling that a business such as Snow Brand is partnering with us and has faith in our track record and our experience, which will see us lead Udder Delights Australia in this new chapter."
Business News Australia
Author: David Simmons