C11 Food Product Manufacturing

Spread the word: he’s a happy little Vegemite

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Original article by John Durie
The Australian – Page: 21 : 30-Jun-17

Australian-listed Bega Cheese will assume ownership of the iconic Vegemite brand on 30 June. Bega paid $A460m for the local food brands of Mondelez, including Vegemite, Zoosh, Bonox and peanut butter products that were formerly sold under the Kraft brand. The Mondelez assets will contribute 40 per cent of Bega’s earnings and 25 per cent of its revenue. Bega undertook a $A122.5m capital raising to help finance the Mondelez deal.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, MONDELEZ AUSTRALIA (FOODS) LIMITED, MONDELEZ INTERNATIONAL INCORPORATED, KRAFT FOODS INCORPORATED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED

Greener pastures: Lion lift sales 19pc in discount war

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Original article by Sue Neales
The Australian – Page: 20 : 6-Jun-17

Dairy processor Lion has had a good 12 months, with sales up almost 19 per cent. Lion’s brands include Pura and Dairy Farmers milk, Yoplait yoghurt, Dare flavoured milk and King Island cheese. Peter West, MD of Lion Dairy & Drinks, says its milk sales benefited from the 2016 backlash against cheap supermarket milk, while its farmgate pricing system is helping to draw farmers away from rival processors.

CORPORATES
LION-DAIRY AND DRINKS PTY LTD, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, FONTERRA BRANDS (AUSTRALIA) PTY LTD, NEW SOUTH WALES FARMERS’ ASSOCIATION

Bellamy’s vulnerable to takeover

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 13 & 23 : 13-Jan-17

Shares in infant formula group Bellamy’s Australia shed 18 per cent to close at $A4.40 on 12 January 2017. The stock fell 20 per cent in the previous session, after being in a trading halt since early December. There is growing speculation that the company could become a takeover target. Belinda Moore of Morgans Financial says it would be attractive to suitors, but notes that turning around its fortunes could take up to 18 months. Bellamy’s shareholder Jan Cameron has ruled out making a takeover bid, although she will continue to push for changes to its board of directors.

CORPORATES
BELLAMY’S AUSTRALIA LIMITED – ASX BAL, MORGANS FINANCIAL LIMITED, CREDIT SUISSE (AUSTRALIA) LIMITED, BLACK PRINCE PRIVATE FOUNDATION, FONTERRA CO-OPERATIVE GROUP LIMITED, BELL POTTER SECURITIES LIMITED, WILSON HTM LIMITED

Expired Fonterra milk powder in China scam

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Original article by Angus Grigg
The Australian Financial Review – Page: 3 : 4-Nov-16

Chinese police have arrested 19 employees of the Jai Wai International Trading Company. The company was accused by the Shanghai Food & Drug Administration of selling 276 tonnes of expired Fonterra milk powder to other wholesalers. New Hope Group, whose subsidiary controls the trading company, distanced itself from the wholesaler saying that the sale of expired milk was a "personal crime" by the GM of the Jai Wai International, Liu Minggang.

CORPORATES
SHANGHAI FOOD AND DRUG ADMINISTRATION, JAI WAI INTERNATIONAL TRADING COMPANY, NEW HOPE GROUP, FONTERRA CO-OPERATIVE GROUP LIMITED, AUSTRALIAN FRESH MILK HOLDINGS PTY LTD

Inghams to spread wings after IPO

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Original article by Damon Kitney
The Australian – Page: 19 & 22 : 6-Sep-16

Private equity firm TPG Capital plans to reduce its stake in Inghams Enterprises via an IPO on the Australian sharemarket. TPG bought the poultry group for about $A880 million in March 2013. The float is expected to raise $A1.3 billion or more from investors. Inghams CEO Mick McMahon says the company intends to seek growth opportunities in foreign markets.

CORPORATES
INGHAMS ENTERPRISES PTY LTDTPG CAPITAL LPASX LIMITED – ASX ASXUBS HOLDINGS PTY LTDCREDIT SUISSE (AUSTRALIA) LIMITEDMACQUARIE CAPITAL PTY LTDCITIGROUP PTY LTDMORGAN STANLEY AUSTRALIA LIMITEDGOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

Philippine firm snaps up snacks maker for $600m

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Original article by Sue Mitchell
The Australian Financial Review – Page: 24 : 18-Aug-16

Universal Robina has increased its presence in the snack foods sector with the acquisition of Snack Brands Australia, whose products include Samboy and Kettle potato chips. Philippines-based Universal Robina has indicated that Snack Brands will remain an independent business, while it intends to launch the company’s products in Asia. Snack Brands’ market share in Australia is almost 30 per cent, and it boasts annual sales of $A303m. Universal Robina’s annual sales are about $A3bn.

CORPORATES
SNACK BRANDS AUSTRALIA, UNIVERSAL ROBINA CORPORATION, GRIFFINS FOODS LIMITED, PACIFIC EQUITY PARTNERS PTY LTD, FRITO-LAY INCORPORATED, THE SMITH’S SNACKFOOD COMPANY LIMITED, THE RED ROCK DELI CHIP COMPANY, THE KETTLE COOKED CHIP COMPANY PTY LTD, SAMBOY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ARNOTT’S BISCUITS LIMITED, CAMPBELL SOUP COMPANY, THORNEY INVESTMENTS PTY LTD, MONDE NISSIN CORPORATION, MENORA FOODS PTY LTD, NUDIE PTY LTD, BLACK SWAN FOODS, BRIGHT FOOD GROUP COMPANY LIMITED, MANASSEN FOODS AUSTRALIA PTY LTD, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, GOODMAN FIELDER LIMITED, UBS HOLDINGS PTY LTD, INTRINSIC PARTNERS, KING AND WOOD MALLESONS

How the soggy cereal conquered a kingdom

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Original article by Angus Grigg
The Australian Financial Review – Page: 1 & 6 : 29-Mar-16

Sanitarium is the latest Australian company to enjoy success in the Chinese market. The company’s Weet-Bix breakfast cereal has been exported to China for eight years, but sales momentum has gathered pace in the last 2.5 years and China has become the biggest export market for Weet-Bix. Meanwhile, Adelaide-based Coopers Brewery is benefiting from the growing demand for craft beers in China, which is now the company’s biggest market in Asia.

CORPORATES
SANITARIUM HEALTH FOOD COMPANY, COOPERS BREWERY LIMITED, 31JIU, FOSTER’S GROUP LIMITED, BLACKMORES LIMITED – ASX BKL, SEVENTH DAY ADVENTIST CHURCH, DAXUE CONSULTING, RESERVE BANK OF AUSTRALIA

Blackmores, Bega target China’s ageing population

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 & 22 : 17-Mar-16

Bega Cheese and Blackmores have reported strong demand for their infant formula in China. The partnership formed by the Australian-listed companies has been so successful that Bega and Blackmores want to expand into products for China’s ageing population. Bega chairman Barry Irvin said the partnership is working on "three to four" new products for the Chinese market.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, BLACKMORES LIMITED – ASX BKL, TATURA MILK INDUSTRIES LIMITED

Murray Goulburn milks right formula

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Original article by Jared Lynch, Tim Binsted
The Australian Financial Review – Page: 16 : 16-Mar-16

Victorian dairy co-operative Murray Goulburn will invest between $A260m and $A300m on upgrading its infant formula factory in Koroit. The project will proceed after Murray Goulburn secured contracts to supply infant formula to US-based Mead Johnson and Indonesia-based Kalbe Nutritionals. The deal with Mead Johnson will result in the US company selling Murray Goulburn’s products to countries throughout the Asia-Pacific region.

CORPORATES
MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, MEAD JOHNSON, KALBE NUTRITIONALS

Blackmores staff in pay bonanza

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Original article by Simon Evans
The Australian Financial Review – Page: 15 & 23 : 26-Feb-16

Australian-listed vitamins group Blackmores has posted a 2015-16 interim net profit of $A48.3m, compared with $18.62m previously. Revenue rose by 66 per cent to $A342m, and employees will be rewarded with an additional 22 days’ pay under the group’s profit-share scheme. Blackmores’ half-year dividend has been increased from $A0.68 per share to $A2. It shares closed 4.8 per cent lower at $A157.07 on 25 February 2016, having peaked at $A220 earlier in the year.

CORPORATES
BLACKMORES LIMITED – ASX BKLWILSON ASSET MANAGEMENTJP MORGAN AUSTRALIA LIMITED