Longtable snaps up St David’s Dairy

The purchase comes just six months after the Australian Securities Exchange listed outfit acquired B.-d Paris Creek, a biodynamic organic dairy farm in South Australia for $34 million.

Ms McBain said St David Dairy provided Longtable with a “quality beachhead” into the Victorian milk market with its diversified customer base, which includes some of Australia’s best cafes and restaurants.

“St David Dairy is a truly premium brand embracing high quality produce, localisation and traceability; all important trends within the premium food sector,” Ms McBain said.

“Importantly it will also be part of our strategy to increase organic milk supply providing an additional pathway to sale of our in-conversion milk.”

Longtable will pay St David’s Dairy founders Ben and Bianca Evans $12.25 million in cash and $3 million in Longtable shares.

St David’s chief executive Mancel Hickey, formerly of Camperdown Dairy, will remain in the role.

The five-year-old dairy company has made a name for itself as Victoria’s only urban dairy, operating from a small factory in the Melbourne suburb of Fitzroy.

Mr Evans first got a taste for the industry helping his grandparents on their Toolong dairy farm, 10km north of Port Fairy. After graduating from high school in Koroit, he secured a dairy cadetship with Murray Goulburn. He then travelled across Europe’s dairy regions before returning home to open his own urban diary outfit.

The company employs 20 people and produces a premium range of milk, butter, cream and yoghurt, sourcing its milk from Gippsland farms.

Mr Evans said Longtable’s ethos of partnering with farmers would build the St David’s Dairy brand.

“St David’s was a natural fit for Longtable, the owners of B.-d Farm Paris Creek. For our amazing farmers, staff and customers, it is awesome to know we have true custodians of our business and brand, and all it stands for,” he said.

The sale will be funded by a $15 million capital raising that was also announced on Thursday. Longtable said 21.4 million new shares were sold to professional and sophisticated investors at $0.70 a share. The company’s share price remained relatively flat after the announcements.

The remaining balance of $2.75 million will be used for further investment in St David’s and to fund the cost of the transaction.


Source: The Weekly Times

Link: https://www.weeklytimesnow.com.au/agribusiness/dairy/longtable-snaps-up-st-davids-dairy/news-story/0f4658c8da0b41d146611606b1bfe1ae

Any claim arising from the information contained on the eDairy News website shall be submitted to the competence of the ordinary courts of the First Judicial District of the Province of Cordoba (Primera Circunscripción Judicial de la Provincia de Cordoba), Republic of Argentina, in the city of Córdoba, excluding any other jurisdiction (Federal jurisdiction is also excluded).


Criteria in the moderation of comments that eDairy News will take into consideration in all its publications.

  • They will not be considered insults of any kind against anyone,, whether a user, moderator or publisher. Complaints made with the name and surname of the author of the commentary will only be accepted after confirmation by the moderator.
  • Unsubstantiated and gratuitous destructive criticism or expressions of bad taste, whether offensive, racist or xenophobic.
  • SPAM, (Insert links to web pages not related to the subject, provide emails, etc...)
  • Comments that are meaningless with the footnote or the dairy sector.