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TasFoods Limited ( (AU:TFL) ) has shared an announcement.
TasFoods Limited has announced its decision to sell Pyengana Dairy, a move aimed at allowing the brand to reach its full potential under new ownership. The sale is part of TasFoods’ strategic roadmap to optimize its business portfolio, with proceeds intended to strengthen its poultry supply chain. The company has entered into a non-binding Term Sheet with AgFood Opportunities Fund, with the option to sell Pyengana Dairy for $2 million plus inventory. This divestment is expected to enhance the brand’s growth strategy both nationally and internationally, while TasFoods continues to explore strategic initiatives to improve shareholder returns.
More about TasFoods Limited
TasFoods Limited operates in the food industry, focusing on premium artisan cheese production through its Pyengana Dairy brand. The company is known for its award-winning Traditional Cloth Bound cheddar cheese, produced in Tasmania, Australia. TasFoods has been expanding its product portfolio since acquiring Pyengana Dairy in 2017.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$2.19M
Find detailed analytics on TFL stock on TipRanks’ Stock Analysis page.