Australia Markets open in 4 hrs

Brownes Dairy sold to Chinese consortium

Western Australia's 130-year-old Brownes Dairy has been sold to a Chinese consortium.

Brownes managing director Tony Girgis revealed on Tuesday that Archer Capital had sold the company to a consortium led by experienced dairy operator Shanghai Ground Food Tech.

Mr Girgis said there would be no disruption to employees or suppliers, and the deal allowed Brownes to develop new product lines and access emerging export markets in Asia.

"Not only will we seek to expand into new products such as cheese, but we will also be better positioned to take advantage of export opportunities and promote the WA dairy industry to a much wider audience," he said.

WAFarmers dairy section president Michael Partridge said foreign investment was becoming an important part of the agriculture industry.

"While some may consider it to be preferred that WA businesses are locally owned, foreign investment brings in valuable capital that allows for new ideas, innovations and technologies to enter our industry," he said.