DAIRYWORLD/PARMALAT JOINT VENTURE SOURS
By Adnews Staff
A joint venture announced last December between Burnaby, British Columbia-based Dairyworld Foods and Toronto-based Parmalat Canada has gone sour. The two intended to create a new company called Maxima Foods Ltd., in which the two dairy suppliers would be equal partners. Maxima would have made and marketed fluid milk. The companies cited several reasons for the termination of negotiations in a press release issued late last week, including the inability to resolve important issues to the best interest of both parties, necessary divestitures that were not economically feasible for the long-term growth of the business, and differing views on the future direction of the new fluid milk company.
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