TasFoods puts another business on the market for $2 million

TasFoods has put its Pyengana Dairy business on the market for $2 million.

In a stock exchange filing, the company said it had entered into a non-binding agreement with AgFood Opportunities Fund.

“It is our view that the divestment of Pyengana Dairy to AgFood, or other appropriate buyers, provides the premium brand and artisan award-winning products with the best possible opportunity to achieve its full potential of scaling up under new ownership as part of the business unit’s growth strategy nationally and into export markets overseas,” TasFoods said.

If it sells Pyengana, it would leave TasFoods with Nichols Poultry and its Isle & Sky pet food business as its only brands.

The company has already sold its Betta Milk, Shima Wasabi and Meander Valley Dairy businesses.