Camperdown Dairy International

Camperdown Dairy International (CDI) was an Australian infant formula company which was founded in 2014 and went into administration in 2017.[1] As well as serving in Australia, it also held licences to sell products in China and Vietnam.[2] It was from 2016 to 2017 one of the two co-major sponsors of the Brisbane Lions.

Camperdown Dairy International
TypePrivate
IndustryInfant formula
Founded2014 (2014)
DefunctJuly 2017 (2017-07)
FatePlaced into administration in July 2017
HeadquartersBraeside, Victoria, Australia
Area served
Australia, China, Vietnam
Websitecamperdowndairyinternational.com.au

History

The Camperdown Cheese & Butter Factory began operations in 1891, and CDI purchased the factory in 2014.[3] CDI ran a fully integrated model, being one of the only producers in the world which owned its own farms, processing, and blending and packaging facilities. It was, at one point, one of only eight companies in Australia with a CNCA licence to export infant formula to China. In 2015, CDI secured a 15-year deal, worth $9 billion AUD overall, to sell infant formula to China with Hong Kong Food and beverage company Great Wall Capital Trading.[4] In 2016, CDI announced their co-major sponsorship (with Vero Insurance) with the Brisbane Lions on a three-year contract, starting that season.[5]

In June 2017, Bellamy's Organic announced that it had purchased Camperdown Powder, a subsidiary of CDI, which included its CNCA licence and blending and packaging facilities in Victoria. Bellamy's chief executive Andrew Cohen explained that it would allow his company to now produce its own products and protect its sales channel into China. [6] In July 2017, CDI was placed into administration after an $83 million collapse.[7] It was announced that CDI would not sponsor the Lions for the third year of their contract, and the company was replaced as co-sponsor by Oaks Hotels & Resorts for the 2018 season.

References
  1. Alexander, Mary (9 October 2014). "Camperdown $120 million dairy factory project to go ahead". The Standard. Retrieved 15 March 2016.
  2. Tutty, Jacinda (13 February 2016). "Australian dairy products are 'white gold' as Asian demand for formula grows". The Courier-Mail. Retrieved 15 March 2016.
  3. Cowlishaw, Lachlan (6 June 2014). "$120-million project will boost economy". Colac Herald. Retrieved 15 March 2016.
  4. Best, Cameron (27 July 2015). "Victoria's Camperdown Dairy International seals lucrative deal to export baby formula to China". ABC News. Retrieved 15 March 2016.
  5. "Camperdown Dairy International sponsors Brisbane Lions". The Weekly Times. 11 March 2016. Retrieved 15 March 2016.
  6. "Bellamy's Organic seeks $60m from investors for 'stabilisation plan'". Australian Financial Review. 13 June 2017. Retrieved 6 September 2019.
  7. Hamilton, Andrew (18 October 2017). "Brisbane Lions struck by collapse of major commercial partner for second year in a row". The Courier-Mail. Retrieved 20 October 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.