$50m deal as couple sells slice of dairy company
Queensland couple Ian and Jane Campbell have sold a majority stake in their award-winning dairy company Barambah Organics.
John Wylie's Tanarra Capital has taken a 70 per cent slice of the specialty dairy company as part of its move into the milk industry.
Barambah produces a range of cheeses, yoghurts and milk drinks that are sold across 800 stores in Australia and internationally.
The products are produced at Darra with milk sourced from the company's three 300-cow organic dairy farms in Queensland and New South Wales.
"We have won a lot of accolades in the last few years and our sales are up 30 per cent during COVID and we are wanting to grow the business further," Mr Campbell said of the deal.
The couple will continue to own a stake in the business and manage parts of Barambah's operations.
"Jane and I have run the business for 18 years and it has been growing rapidly but it will be good to have more feet under the table as the business grows further," Mr Campbell said. The deal values Barambah Organics at around $50m, according to media reports, but the Campbells did not want to discuss the financial details when contacted by The Courier-Mail.
It comes as speculation mounts that Tanarra is eyeing a bigger dairy acquisition - Lion's dairy business - which is back on the block after the federal government rejected its planned $600m sale to China-based Mengniu.
Tanarra - which manages $1.7bn of funds across its operations in private equity, private credit, venture capital and selected strategic investments in public companies - aims to help fast track Barambah's growth, which includes expanding deeper into south-east Asia.
Barambah Organics has won a swag of awards over recent years including 2019 Australian Grand Dairy Awards - Champion Light Milk of Australia.
Additional reporting by The Australian
Originally published as $50m deal: Qld couple sells slice of dairy company