Murray River Organics raises $30 million to go number one.

Organic food producer Murray River Organics (ASX:MRG) has raised more than $30 million from investors to complete the restructuring of its operations based in Dandenong, Victoria.
The company has already restructured management and operations and invested in new products and processes.
The raising will make it the world’s largest vertically integrated processor of organic vine fruits. As well as basic foods such a dried fruits, coconut products and rice, it also sells processed powders, oils, grains syrups and spreads.
Chairman Andrew Monk said in a statement: “We expect the next 12 months will be transformational for the company, our people, our growers, our supply partners and our customers.”
Murray River Organics controls 4,400 acres of certified organic farmland, a certified organic processing facility in Mourquong, NSW and a new organically certified packaging facility in Dandenong, Victoria
The new equity is bolstered by a new three debt facility which will enable the company to complete the restructure.
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The ASX announcement is here:
Comment in the Australian Manufacturing Forum here.

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