Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Here’s Why The Freedom Foods (ASX:FNP) Share Price Is Down

The Freedom Foods (ASX:FNP) share price is down after holding its annual general meeting (AGM) and announcing an acquisition.  

The Freedom Foods (ASX: FNP) share price is down after holding its annual general meeting (AGM) and announcing an acquisition.

Freedom Foods is a food company that was started in 1986 with a focus on making nutritious and healthier food and beverages. It started with products in soy, rice milks and breakfast drinks. Some of its brands include Freedom, Milk Lab, Crafted Blends, Messy Monkeys, Australia’s Own, So Natural, and Goodness.

Freedom Foods’ Acquisition

This morning the company announced that Australian Fresh Milk Holdings (AFMH) has acquired the Torrumbarry Aggregation in Northern Victoria.

AFMH is a partnership owned by the Moxey and Perich families as well as other shareholders including Freedom Foods which as a 10% shareholding of AFMH.

AFMH currently operates two fully integrated dairy farming operations, being Moxey Farms in New South Wales and Coomboona Farms in Northern Victoria.

The Torrumbarry Aggregation is 3,500 hectares on the Murray River, which is 100km north of Shepparton and includes “significant” water waters.

The acquisition now makes AFMH the largest dairy producer in Australia with current operations forecasting over 190 million litres of production in 2021.

Freedom Foods intends to utilise more of the dairy milk output from AFMG for its milk supply needs for its UHT and other value added products.

The company contributed $4 million in equity funding as part of the deal.

AGM News

Management said that the company is well positioned to build into a major global food and beverage business with growth from Australia and Asia.

The company has finished its first stage of its ‘transformational Nutritionals capability’ and expects revenue and operating profit to increase as it finishes its current investment process.

Freedom Foods said that it has been producing and selling Lactoferrin since September 2019, adding to earnings diversification.

Its new “state of the art” facility in Shepparton is operational and the company is also installing solar panels across the entire site, making it the largest roof solar battery project in Victoria.

[ls_content_block id=”14947″ para=”paragraphs”]

[ls_content_block id=”18380″ para=”paragraphs”]

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content