A proposed merger between Bega Cheese and Tatura Milk Industries in Australia will be put to shareholders next month.
Bega Cheese, based in south-east New South Wales, already owns 70% of Tatura Milk shares and is set to acquire the remaining 30% which is owned by farmers.
Tatura Milk in Victoria was established in the early 1900s and processes more than 350 million litres of milk per year.
Court documents from the company's directors show it recorded a profit last financial year of $A13.8 million.
The ABC reports the Victorian Supreme Court on Friday ordered the merger proposal be put to a meeting of shareholders on 14 December.
The proposal will then return to the court for final approval.