Gardiner Dairy Foundation was established via legislation in Section 65 of the Dairy Act 2000, in partnership with Victorian farmer, processor and manufacturer groups and the Victorian Government, to increase the international competitiveness of the Victorian dairy industry.
Gardiner Dairy Foundation was created with $62m in funding from the sale of assets, including milk brands, as part of deregulation of the dairy industry. The Foundation’s constitutional responsibility is to maintain the current real value of the legacy. Responsible management of the funds is an ongoing priority as the income produced supports Gardiner Dairy Foundation’s annual investment in key industry projects. The fund now has in excess of $130m under management.
Since inception Gardiner Dairy Foundation has contributed over $80m toward projects that have made a significant contribution to the Victorian dairy industry. With the inclusion of cash and in-kind contributions from all partners, these contributions have a total value of more than $180m.