National Foods to acquire Dairy Farmers

National Foods Limited (NFL), a wholly-owned subsidiary of Kirin Holdings Company Limited has acquired all shares in Dairy Farmers (DF), Australia's second-largest fresh dairy company, on August 25, 2008.

Under the terms of the basic agreement reached among the companies, NFL will acquire all outstanding ordinary shares on a fully diluted basis, including existing ordinary shares and instruments equivalent to or convertible into ordinary shares in DF.

The offer values DF at A$884 million ($753.6 million).