C11 Food Product Manufacturing

Bega Cheese in billion-dollar milestone

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Original article by Tim Binsted
The Australian Financial Review – Page: 14 : 6-Jan-16

Bega Cheese had a market capitalisation of around $A250m when it listed on the Australian sharemarket in August 2011. The former dairy co-operative’s market value topped $A1bn in late December 2015, and its share price rose by 42 per cent during the calendar year. The stock has benefited from plans for a nutritional foods joint venture deal with Blackmores, which amongst other things will tap into the growing demand for infant formula.

CORPORATES
BEGA CHEESE LIMITED – ASX BGA, BLACKMORES LIMITED – ASX BKL, THE A2 MILK COMPANY LIMITED – ASX A2M, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, FONTERRA CO-OPERATIVE GROUP LIMITED, FONTERRA SHAREHOLDERS’ FUND – ASX FSF, BESTON GLOBAL FOOD COMPANY LIMITED – ASX BFC, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, SAPUTO INCORPORATED

China Dairy Corp eyes milk for juniors

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Original article by Simon Evans, Jared Lynch
The Australian Financial Review – Page: 30 : 3-Nov-15

China Dairy Corporation has announced plans to list on the Australian stock exchange. The company intends to raise up to $A20 million via the float. Chinese consumers are developing strong appetite for dairy products. The company also expects to benefit from the abandonment of the one-child policy in China.

CORPORATES
CHINA DAIRY CORPORATION, PHILLIP CAPITAL LIMITED, BLUEMOUNT CAPITAL SERVICES PTY LTD, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, ASX LIMITED – ASX ASX

Vitaco joins Blackmores in vitamins frenzy

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Original article by Simon Evans
The Australian Financial Review – Page: 25 & 30 : 17-Sep-15

Shares in Vitaco closed at $A2.38 on 16 September 2015, after listing on the Australian sharemarket at $A2.50. The vitamins and sports nutrition group’s shares reached an intra-day high of $A2.59, compared with an issue price of $A2.10 in an IPO that raised $A232m. Vitaco anticipates strong growth in demand for vitamins in China, which currently accounts for about eight per cent of group sales. Rival Blackmores has also benefited from rising demand in China, with its shares closing at $A130 after peaking at $A132.99.

CORPORATES
VITACO HOLDINGS LIMITED – ASX VIT, BLACKMORES LIMITED – ASX BKL, NEXT CAPITAL PTY LTD, HEALTHERIES OF NEW ZEALAND LIMITED, NUTRA-LIFE HEALTH AND FITNESS AUSTRALIA PTY LTD, ALIBABA GROUP HOLDING LIMITED, SWISSE WELLNESS PTY LTD, BODYTRIM, MUSASHI PTY LTD, AUSSIE BODIES PTY LTD, JB HI-FI LIMITED – ASX JBH

Former Kellogg’s boss calls for investment lift in food

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Original article by Michael Smith
The Australian Financial Review – Page: 15 &20 : 14-Sep-15

McGrath Estate Agents chairman David Mackay was the CEO of multinational food group Kellogg from 2006 to 2011. He notes that Asia represents a huge opportunity for Australia’s food industry, but stresses the need the need for the sector to commit to long-term investment in order capitalise on this. He also argues that the Australian manufacturing sector’s costs are too high, with wages in particular much higher than most countries.

CORPORATES
McGRATH REAL ESTATE PTY LTD, KELLOGG COMPANY, FORTUNE BRANDS INCORPORATED, KEURIG INCORPORATED, MARS AUSTRALIA PTY LTD, SARA LEE AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, BEAM GLOBAL SPIRITS AND WINE INCORPORATED, SUNTORY LIMITED

Dairy industry faces tough year

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Original article by Jared Lynch
The Australian Financial Review – Page: 29 : 21-Jul-15

The global price of whole milk powder fell by 13.1 per cent to $US1,848 per tonne in early July 2015. The downturn has prompted industry body Australian Dairy Farmers to warn that local dairy farmers may struggle to break even in 2015-16. The majority of milk processors have indicated that they will initially pay dairy farmers $A5.60 per kilogram of milksolids, which is just above the cost of production for many farmers.

CORPORATES
AUSTRALIAN DAIRY FARMERS’ LIMITED, FONTERRA CO-OPERATIVE GROUP LIMITED

Dairy chief keen to pursue more deals in Australia, NZ

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Original article by Jared Lynch
The Australian Financial Review – Page: 13 : 14-Jul-15

Canada-based Saputo has made around $C5bn ($A5.29bn) worth of acquisitions since its IPO in 1997, according to CEO Lino Saputo jr. He remains upbeat about the long-term outlook for the global dairy products industry, despite a sharp fall in milk prices in the last 18 months. Saputo is keen for more acquisitions in Australia and New Zealand, after entering the local market via its $A450m deal to acquire Warrnambool Cheese & Butter.

CORPORATES
SAPUTO INCORPORATED, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, BEGA CHEESE LIMITED – ASX BGA, LION-DAIRY AND DRINKS PTY LTD, FONTERRA CO-OPERATIVE GROUP LIMITED, TORONTO STOCK EXCHANGE, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Murray Goulburn float caution

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Original article by Jared Lynch
The Australian Financial Review – Page: 3 : 3-Jul-15

The listed unit trust of dairy co-operative Murray Goulburn will debut on the Australian sharemarket on 3 July 2015, at $A2.10 per unit. The trust will allow non-farmer investors to gain exposure to the nation’s largest dairy processor via non-voting stock. Meanwhile, second-generation dairy farmer Ross Powell has urged fellow milk suppliers to avoid allowing the IPO to become a distraction.

CORPORATES
MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, FONTERRA CO-OPERATIVE GROUP LIMITED

Hepatitis A recall takes bite from Patties profit

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Original article by Jared Lynch
The Australian Financial Review – Page: 23 : 4-Jun-15

Patties Foods has advised that it is likely to post a 2014-15 net profit of $A15m, down from $A16.7m previously. Earnings for the current year are expected to be reduced by about $A1.5m due to a frozen berries product recall arising from a hepatitis A scare. CEO Steven Chaur says the group now subjects its berries to a stringent testing regime.

CORPORATES
PATTIES FOODS LIMITED – ASX PFL, NANNA’S, CREATIVE GOURMET, FOUR ‘N TWENTY PIES

Cheese revamp aimed at Asia

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Original article by Tim Binsted
The Australian Financial Review – Page: 22 : 20-May-15

Japanese-owned dairy products group Lion will officially open its expanded specialty cheese plant in the Tasmanian city of Burnie on 20 May 2015. The four-year project cost $A150m, and Lion CEO Stuart Irvine says it will allow the group to tap into the growing Asian market for premium dairy products. He has also flagged a greater push into the domestic market, noting that just 25 per cent of Australian households consume specialty cheeses.

CORPORATES
LION-DAIRY AND DRINKS PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, BERRI LIMITED, DAIRY FARMERS LIMITED, TOOHEYS BREWING COMPANY PTY LTD, CASTLEMAINE PERKINS LIMITED, KING ISLAND DAIRY PTY LTD, SOUTH CAPE PTY LTD, COLES GROUP LIMITED, WOOLWORTHS LIMITED – ASX WOW, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, FONTERRA BRANDS (AUSTRALIA) PTY LTD, JAPAN POST, TOLL HOLDINGS LIMITED – ASX TOL

Beston IPO to follow lobster, dairy stakes

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Original article by Simon Evans
The Australian Financial Review – Page: 20 : 9-Apr-15

Former WorleyParsons executive Sean Ebert has become CEO of Beston Global Food Company ahead of its proposed Australian sharemarket float in July 2015. Beston has also appointed GrainCorp chairman Don Taylor and formers Santos chairman Stephen Gerlach to its board. Meanwhile, it has acquired stakes in live lobster exporter Ferguson Australia and biodynamic dairy firm B.-d. Paris Creek

CORPORATES
BESTON GLOBAL FOOD COMPANY LIMITED, FERGUSON AUSTRALIA PTY LTD, B D FARM PARIS CREEK PTY LTD, GRAINCORP LIMITED – ASX GNC, WORLEYPARSONS LIMITED – ASX WOR, IOOF HOLDINGS LIMITED – ASX IFL, BELL POTTER SECURITIES LIMITED, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, INDEPENDENT GROCERS OF AUSTRALIA, BESTON WINE INDUSTRY TRUST, CHALLENGER LIMITED – ASX CGF