The co-operative formed to keep manufacturing and tourism alive in the Girgarre region, following the relocation of the Heinz tomato processing facility, has made a second bid for the factory.
On Saturday the factory was officially closed, following intense opposition from the local community, which was reliant on employment at the factory, which has now moved its operations to New Zealand, sighting the high cost of doing business in Australia.
Of the 420 residents aged between 15 and 64 in the town, 146 were employed at the factory, and when attempts to keep the Heinz processing plant local failed, the Goulburn Valley Food Action Committee was formed in September last year.
The first offer was rejected, but Committee Chairman Les Cameron told the ABC a second offer will be made in early February.
"We are lining up all our ducks, we are making sure that we've got the money to make a better offer," he said.
"As long as we get what we think we should get from the property, we hope to own the property from early February and take up residency in late April or early May."
He said the committee is waiting for more information about the factory from Heinz before it makes its second bid.
"We need to be sure that the water right is still going to be in tact," Cameron said.
"We need to know exactly what the boundaries ... because Heinz are looking at retaining some of the land, as we understand it, for their own purposes.
"We need to know what the buildings are and what infrastructure will actually be part of it and of course finally we need to know whether there is any production equipment that will be left."
Over the weekend Australian Manufacturers Workers Union spokesperson Jason Hefford said the committee would have to work out what would be included if it purchased the factory.
“We’re hopeful that something will get up,” he said.
“It’ll depend on how much equipment is left.
“If Heinz just leave a shell of a factory, what is it worth really?
“My understanding is that Heinz is going to take all the equipment.”