Bega cooks up Aussie food champ

Original article by Simon Evans
The Australian Financial Review – Page: 1 & 28 : 27-Nov-20

Bega Cheese’s executive chairman Barry Irvin expects to achieve synergies of about $41m soon after the deal to acquire Lion Dairy & Drinks from Kirin Holdings is completed in early 2021. Bega will raise $401m from investors to partially finance the $534m deal, with new shares to be offered at $4.60 apiece. The acquisition will add milk and yoghurt brands such as Pura, Dairy Farmers and Yoplait to Bega’s portfolio, which includes non-dairy products such as Vegemite and peanut butter. The federal government blocked the sale of Lion to China Mengniu Dairy in August, deeming that the $600m deal was not in the national interest.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, LION-DAIRY AND DRINKS PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, CHINA MENGNIU DAIRY COMPANY LIMITED

Bellamy’s steps up overtures to daigou traders

Original article by Simon Evans, John Kehoe
The Australian Financial Review – Page: 15 : 18-Sep-19

Shares in infant formula maker Bellamy’s Australia rose a further 1.1 per cent on 17 September, following a 55 per cent jump on 16 September after it disclosed it was the subject of a $1.5 billion takeover by China Mengniu Dairy. Bellamy’s shares had declined 62 per cent in the 18 months prior to the offer, largely due to regulatory problems in China. Some crossbench senators have suggested the Chinese government sought to depress Bellamy’s share price to make it easier for Chinese companies to bid for it, while Bellamy’s will accelerate a push to boost the sales it makes through daigou traders.

CORPORATES
BELLAMY’S AUSTRALIA LIMITED – ASX BAL, CHINA MENGNIU DAIRY COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CENTRE ALLIANCE, AUSTRALIAN GREENS, BURRA FOODS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY

Bellamy’s set to be bought by China Mengniu Dairy for $1.5bn

Original article by Eli Greenblat
The Australian – Page: Online : 17-Sep-19

The board of Bellamy’s Australia has unanimously backed a $1.5 billion takeover bid for the infant milk formula maker by China Mengniu Dairy. The transaction represents the first Chinese takeover bid for an Australian infant milk formula maker, with China Mengniu Dairy manufacturing and distributing dairy products in China, as well as having manufacturing sites in Malaysia and Indonesia. The transaction is subject to the approval of Bellamy’s Australia shareholders and the Foreign Investment Review Board.

CORPORATES
BELLAMY’S AUSTRALIA LIMITED – ASX BAL, CHINA MENGNIU DAIRY COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Peanut butter battle leaves Kraft in a jam

Original article by Eli Greenblat
The Australian – Page: 19 : 2-May-19

Australian-listed Bega Cheese has won a trademark dispute with US food giant Kraft over the design of peanut butter packaging. The Federal Court has ruled that Bega has the exclusive right to use the distinctive packaging of Kraft Peanut Butter in Australia after it bought the brand from Kraft spin-off Mondelez International in 2017. Kraft subsequently re-entered the Australian peanut butter market using its traditional packaging, which was similar to that of Bega.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, THE KRAFT HEINZ COMPANY, MONDELEZ INTERNATIONAL INCORPORATED, FEDERAL COURT OF AUSTRALIA

Polly Waffle to make a comeback after success of Violet Crumble

Original article by Simon Evans
The Australian Financial Review – Page: 3 : 25-Jan-19

Adelaide-based Robern Menz has bought the iconic Australian brand Polly Waffle from Nestle and will relaunch the popular chocolate bar, which was discontinued in 2009. Robern Menz previously bought the Violet Crumble brand from Nestle in 2018, in a deal that has boosted sales turnover by 35 per cent. Phil Sims, the CEO of Robern Menz, says the company is focusing on niche strategies in order to compete with global confectionery groups.

CORPORATES
ROBERN MENZ GROUP, NESTLE SA

Lion to ditch struggling dairy, stick to brewing

Original article by Eli Greenblat
The Australian – Page: 19 : 11-Oct-18

Australian beverages group Lion has flagged plans to divest its Lion Dairy & Drinks division in order to focus on its brewing assets. Lion CEO Stuart Irvine is upbeat about the outlook for Lion Dairy & Drinks in the wake of a turnaround program, but he adds that the Japanese-controlled company has opted to focus on other growth areas following a review of the dairy assets. Lion is particularly bullish about its prospects in the global craft beer market. Lion Dairy & Drinks’ brands include Pura milk, Dare Iced Coffee and King Island cheese.

CORPORATES
LION PTY LTD, LION-DAIRY AND DRINKS PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, LITTLE CREATURES BREWING PTY LTD, FOURPURE, SAPUTO INCORPORATED, FONTERRA CO-OPERATIVE GROUP LIMITED, BEGA CHEESE LIMITED – ASX BGA, PARMALAT AUSTRALIA PTY LTD, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED

Bega’s money not for Capilano Honey: Irvin

Original article by Eli Greenblat
The Australian – Page: 20 : 11-Sep-18

Bega Cheese announced plans for a $200 million share placement and associated share purchase plan on 10 September. The announcement prompted speculation that it would be using the money raised to launch a counter bid for Capilano Honey, in which it holds a 8.4 per cent stake and which is currently the subject of a $20.06 per share takeover bid from private equity groups Wattle Hill and ROC Partners. Bega executive chairman Barry Irvin claims the money will be used to strengthen its balance sheet and reduce its debt levels, and that it had not made any decisions about Capilano.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, CAPILANO HONEY LIMITED – ASX CZZ, WATTLE HILL, ROC PARTNERS PTY LTD, SAPUTO INCORPORATED, MONDELEZ AUSTRALIA (FOODS) LIMITED

Bega’s all abuzz for stung Capilano

Original article by Eli Greenblat
The Australian – Page: 19 & 29 : 7-Sep-18

Bega Cheese has increased its stake in Capilano Honey to 8.4 per cent, after having secured an initial shareholding in the week ending 31 August. Capilano is currently the subject of a takeover bid from private equity groups Wattle Hill and ROC Partners, whose $20.06 per share offer values Capilano at more than $190 million. Bega executive chairman Barry Irwin states he is not perturbed by reports that Capilano may unknowingly be selling "fake honey". Irwin says Bega has not made any decisions about making a bid for Capilano itself.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, CAPILANO HONEY LIMITED – ASX CZZ, WATTLE HILL, ROC PARTNERS PTY LTD, AUSTRALIAN CAPITAL EQUITY PTY LTD, KIDDER WILLIAMS LIMITED, SAPUTO INCORPORATED, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED

Murray Goulburn steams ahead to tie up sale deal

Original article by Sue Neales
The Australian – Page: 21 : 7-Mar-18

An extraordinary general meeting of Murray Goulburn’s suppliers will be held on 5 April, where they will vote on a deal to sell the dairy co-operative’s assets to Canada-based Saputo. However, the meeting is conditional on the Australian Competition & Consumer Commission approving the deal by 4 April. Saputo hopes to gain approval from the ACCC in return for agreeing to divest Murray Goulburn’s milk processing plant in Koroit. The sale to Saputo must supported by at least 50 per cent of Murray Goulburn’s suppliers.

CORPORATES
MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, SAPUTO INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Industry hopping mad over kangaroo cull video

Original article by Sam Buckingham-Jones
The Australian – Page: 1 & 6 : 6-Mar-18

Australia’s kangaroo meat industry is furious over what it states are outlandish claims in a new video documentary. "Kangaroo: A Love-Hate Story", produced by Michael McIntyre and Kate McIntyre Clere, is yet to be seen in Australia. However, it has been screened in the US for over a month. McIntyre and McIntyre Clere have been accused of using shock tactics and of suggesting that some species of kangaroos are close to extinction. National Farmers’ Federation president Fiona Simson says the kangaroo population has increased to "crisis proportions". The kangaroo meat industry is worth $A200 million.

CORPORATES
NATIONAL FARMERS’ FEDERATION LIMITED, AUSTRALIAN GREENS, WAROO GAME MEATS, KANGAROO INDUSTRY ASSOCIATION OF AUSTRALIA, ANIMAL JUSTICE PARTY, UNIVERSITY OF TECHNOLOGY, SYDNEY