AHF.ASX becomes first vertically integrated ASX listed dairy company by acquiring Camperdown Dairy Co. +100%

Thomas Schoenmaker

Wentworth Securities

I wrote a note on the Dairy sector, which included Australian Dairy Farms (AHF.ASX) and Camperdown Dairy (CDC), back in June (see note - (VIEW LINK) ). Since then AHF has under-performed, until today. Mention China and Dairy, and the stock has turned over 75m shares (only 156m on issue), and up 100%! However, AHF owns 6 dairy operations in Victoria, and by acquiring CDC, an established dairy processor, which is also one of the few with certification for rapid clearance of milk into China (CIQ), becomes vertically integrated. In short, the deal is debt funded and has "potential" to double EBITDA in FY 2017. Note here - (VIEW LINK)

Thomas Schoenmaker
Director and Head of Wealth Management
Wentworth Securities

Tom is a Founder and Head of Wealth Management. For the past 10 years, he has been running the Wentworth Model Portfolios, focusing on macroeconomics and tactical equity positioning. These portfolios were initially created as a solution for "core...

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