Murray Goulburn (MG) has sold its Kiewa Country dairy brand, processing equipment and packaging assets to Kyvalley Dairy Group.
The sale does not include MG's facility Kiewa, Victoria, which MG closed in July.
Kyvalley Dairy Group is owned and operated by brothers Peter, David and Wayne Mulcahy, and is based in Kyabram in Northern Victoria.
The company is one of Australia’s largest family-owned dairy companies, and is also one of Australia's largest exporters of fresh milk to Asia, selling into Malaysia, Singapore and China.
The Kiewa Country equipment is to be relocated to its facility at Kyabram.
“Kyvalley Dairy believes in the Australian dairy industry and we are investing in its future. With the purchase of Kiewa Country, we are continuing our support of local communities,” Peter Mulcahy said.
Kyvalley Dairy Group CEO, Alastair McCredden said: “As a family owned fresh milk business this purchase provides an opportunity to relaunch a cherished brand and continue jobs growth in regional Victoria.”
The transaction remained subject to completion, according to MG, and the terms are confidential.
