Dairy Company Wattle Health (ASX:WHA) has entered into a joint venture with Organic Dairy Farmers of Australia and Niche Dairy.
The deal will see the companies design, construct and operate an organic spray drying facility in Australia.
Under the venture Wattle Health will have a 45 per cent ownership interest, with Organic and Niche holding 50 and 5 per cent respectively to form Corio Bay Dairy Group (CBDG).
The deal will enable Wattle Health to become one of a handful of nutritional dairy companies to have access to vertical integration from the farm to the consumer.
Shares in Wattle Health (ASX:WHA) are currently in a trading halt they last traded at $2.26
By: Anna Napoli
Source: Finance News Network