New Zealand's second largest dairy processing company Kiwi Cooperative Dairies Ltd said on Friday it had increased its stake in West Australian food company Peters & Brownes to 80 per cent. The increase - from 68 per cent - came about through the acquisition of the stake of a minority partner in Peters and Brownes, the company said in a statement. The New Zealand dairy industry is currently attempting to merge its major components - Kiwi and fellow processing company New Zealand Dairy Group, and the export agency they jointly control, the New Zealand Dairy Board. A vote on the merger proposal is expected to be voted on by supplier shareholders in May. Both NZ Dairy and the Dairy Board are pursuing acquisition options in Australia as well, Industry source reports.
