Iconic WA dairy sold to Italians

Iconic WA agribusiness Harvey Fresh has been sold to Italian dairy giant Parmalat.

The deal was announced on the Italian Stock Exchange early this morning with a reported sale price &#836479 million (A$120m).

Harvey Fresh and Parlamlat have been in sale negotiations since last year.

As the race to snap up Australian dairy assets continues, the sale follows the recent acquisitions of Mundella and the Margaret River Cheese Company by Chinese conglomerate Bright Foods, and Canadian company Saputo taking over Australia's oldest dairy Warrnambool Cheese and Butter (WCB).