As the leading bidder Lactalis has been granted exclusivity for a buyout of Mainland Group reports the Australian Financial Review. Lactalis has received the all-clear from the Australian Competition and Consumer Commission (ACCC) which found proposed acquisition would remove competition between in the purchase and acquisition of raw milk. However, the ACC found each targeted different farms due to their “production profiles”.

The sale of Fonterra’s consumer products business, includes brands Mainland, Perfect Italiano cheese and Western Star butter. Non-binding bids were due on 4 July with another round of bids shortly afterwards. 

Fonterra declined to comment on media speculation, saying it is engaged in “a confidential and competitive sale process with multiple interested parties.”