In 2004, Australian Co-operative Foods renames itself Dairy Farmers Limited (DFL) and sets itself the goal to sell or become a publicly listed company. As a result of that decision, Dairy Farmers Milk Co-operative (DFMC) is created to represent the farmers. At this time, DFMC has 1,423 farms producing 1.2 billion litres of milk.
DFMC elects its first Board of Directors. The inaugural members are: Ian Zandstra, Alan Mathers, Eddie Wallwork, Duncan McInnes, Peter Ness and John Bastian (independent director) with Ian Zandstra becoming DFMC’s first chairman. DFL and DFMC enter into a 10 year milk supply agreement.