San Miguel is still in the hunt for Graeme Hart's Dairy Foods but its primary focus is the smooth completion of the National Foods deal, sources say.
In a statement to the NZX yesterday, Hart denied media speculation that San Miguel had already won the bidding for Dairy Foods.
The
sale process is understood to be live and about two or three weeks from completion. Hart said although "various parties" involved in considering the acquisition were conducting due diligence, there could be no certainty as to the outcome.
It is understood that Nestle, Danone and Coca-Cola Amatil are also considering buying the company.
As part of the National Foods purchase, San Miguel is likely to end up owning the Yoplait yoghurt brand in New Zealand. That could see it attract the attention of the Commerce Commission if it also gets Dairy Foods.
