Health supplement distributor Probiotec has acquired all of the shares in the Australian Dairy Proteins joint venture it set up with Dairy Farmers.
The Australian Financial Review reports that Probiotec began the ADP joint venture in May 2002 to develop a plant to extract high-purity dairy proteins from whey, a byproduct of cheese making.
The company has bought all of Dairy Farmers' shares.
The joint venture makes dairy proteins, including the world's only dairy-based high-purity immunoglobulins, or antibodies.
Probiotec has Therapeutic Goods Administration approval to use its immunoglobulins in pharmaceutical products.
Probiotec is negotiating with five big dairy groups for access to a greater stream of whey for its Malanda, Queensland, plant.
If ADP can sell the production capacity of dairy proteins, company earnings could jump, Probiotec believes.
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