Norco wins exclusive rights to Pauls
Norco has been granted the exclusive right to use Parmalat Australias Pauls brands after the Brisbane Commercial Court found in favour of the Lismore-based dairy cooperative last week.
Norco recently won a court battle to acquire Parmalat Australias 50 per cent share in the joint milk venture, estimated at around $50 million, but still had fight for exclusive rights to Pauls brands.
Norco CEO Murray Richardson said he was pleased but not surprised with the decision.
We didnt believe Parmalat had any legal grounds to withdraw the joint ventures use of the brands, Mr Richardson said. The joint venture has operated very successfully with exclusive use of the Pauls brands for nearly a decade and we did not accept that Parmalat could retrospectively change the terms.
Parmalat Australia has appealed against the decision.
We expected that Parmalat would appeal, Mr Richardson said. While it may delay our acquisition of their share of the joint venture we are very confident the acquisition will proceed in due course.