31 March, 2016
The purchase of Australia’s biggest dairy business, the Van Diemen’s Land Company by Moon Lake Investments Pty Ltd was finalized in March
The VDL business includes 25 dairies on the lush pastures of the North-West Coast of Australia’s southern-most island state of Tasmania which boasts some of the world’s purest air and water.
It will continue to operate as VDL Farms and market its product to China under the Van Milk brand.
Moon Lake Investments Pty Ltd is an Australian company set up as a vehicle specifically for this acquisition. The sole owner of Moon Lake Investments is Mr Lu Xianfeng, a successful Chinese businessman with a track record of achievement across a range of industries and significant business interests in Australia.
Mr Lu is the Managing Director and Executive Chairman of ASX listed Kresta Holdings Limited, Australia’s biggest window covering retailer. The Kresta group, established more than 40 years ago, employs more than 700 people within Australia and New Zealand.
Mr Lu is also the founder and largest shareholder of Ningbo Xianfeng New Material Co. Ltd (APLUS), a company listed on the Shenzhen Stock Exchange, China, with a market capitalisation of approximately A$1.52 billion. In addition to being the controlling shareholder of Kresta, APLUS manufactures a range of sun-shading materials and products which are sold in 68 countries worldwide.
Prior to founding APLUS in 2003, Mr Lu ran successful seafood trading and processing business, Happiness Seafood Company, based in Ningbo, China.
Mr Lu said he looked forward to working with the existing board and management of VDL Farms to further develop the potential of the assets over the long term.
VDL Farms today owns and operates 25 dairy farms and a Dairy Support Unit which includes the young stock rearing operation. It is a 19,000 cow dairy operation with more than 30,000 dairy livestock in total that produces around 100 million liters of milk a year and has a team of 140-150 people, making it Australia’s biggest dairy business.
Mr Lu said Moon Lake would work with Brand Tasmania and local industry to expand opportunities for value added products and to further enhance the VDL brand in national and international markets.
“From my first visit to the region I could see its unique attributes, and since that time have been keen to do what I can to further develop the potential of the VDL assets.
Mr Lu said Moon Lake intended to work with the existing management of the dairy assets and its employees to seek continued gains in productivity while continuing to supply milk to Tasmanian milk processors.
The company aims to be an active corporate citizen in the local community and work to further enhance VDL Farm’s relationship with the Tasmanian Aboriginal community.