The farms produce raw milk, with a total capacity of approximately 16,000 heads of cattle.
Agri-food company Japfa has announced that its dairy division is acquiring two farms in Shandong, China.
Japfa’s 75%-owned subsidiary AusAsia Investment Holdings will acquire the entire issued capital for Falcon Dairy Holdings for US$123.4 million ($165.5 million). Falcon holds 100% interest in Pure Source Farm Company, which in turn owns the two dairy farms.
