DLA Piper advised a consortium comprising Freedom Foods Group, Leppington Pastoral Company and New Hope Dairy, in the establishment of Australian Fresh Milk Holdings Pty Ltd (AFMH), an incorporated joint venture formed to invest in intensive dairy farming in Australia. The firm also advised the joint venture on its initial investment, the acquisition of one of Australia's largest single-site dairy operations, Moxey Farms, for approximately AU$80 million.

As part of the transaction the Moxey family will take an interest in the AFMH joint venture.

The transaction secures access to a long-term supply of high quality milk as the group explores expansion opportunities. It also leverages Freedom Foods' processing capabilities and New Hope Dairy’s Asian footprint to readily access export markets such as China and South East Asia.

The DLA Piper team, led by its Asia Pacific Head of Corporate, Bryan Pointon, with senior associates Horace Wu and James McCarthy, advised on all legal aspects of the establishment of the joint venture and the acquisition of Moxey Farms. Head of Banking and Finance in Australia, Onno Bakker, and senior associate, Sarsha Housham, advised on the financing arrangements. Senior associate, Bhavini Sundarjee, advised on land and water matters.

Bryan Pointon, said: "The Australian dairy industry has experienced high levels of transactional activity. We are pleased to have assisted on the formation of AFMH and the acquisition of Moxey Farms."