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Australian billionaire Paul Lederer is in talks to sell Real Dairy Australia, the Sydney-based dairy business he built after his exit from the meat industry, to US food group Schreiber Foods, the Australian Financial Review reported on Sunday. The terms of the potential deal were not disclosed. Neither Lederer nor Schreiber has commented publicly on the talks. Real Dairy Australia is based in Greenacre, in Sydney's west, and also trades as Australian Dairy Packaging. It makes and packages dairy products, including dry and condensed products, and supplies retailers and food manufacturers. A buyer with global reachSchreiber Foods is one of the largest dairy companies in the United States. Founded in 1945 and based in Green Bay, Wisconsin, it makes natural, processed and cream cheese, yogurt and dairy drinks, mostly for restaurant chains, grocery retailers and food companies that sell them under their own brands. It has more than $7 billion in annual sales, employs over 9,000 people and has operations in North America, Europe and Asia. Schreiber is owned by its employees.