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.
BEGA CHEESE LIMITED – ASX BGA, LION-DAIRY AND DRINKS PTY LTD, KIRIN HOLDINGS COMPANY LIMITED, CHINA MENGNIU DAIRY COMPANY LIMITED
Original article by Sue Mitchell, John Kehoe
The Australian Financial Review – Page: 1 & 16 : 26-Nov-19
Some federal politicians have expressed concern about China Mengniu Dairy Company’s proposed acquisition of milk processor Lion Dairy & Drinks. Labor senator Kim Carr says the $600m deal should be subject to a number of conditions to ensure that jobs and processing facilities in regional areas are protected. Nationals MP Barnaby Joyce is concerned about China’s "creeping acquisition" of dairy-related assets in Australia, while independent MP Andrew Wilkie says ownership of Australia’s leading brands is becoming increasingly concentrated. Farmers say the deal should be conditional on a floor price for the farm gate price of milk.
LION-DAIRY AND DRINKS PTY LTD, CHINA MENGNIU DAIRY COMPANY LIMITED, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, KIRIN HOLDINGS COMPANY LIMITED, DAIRY CONNECT LIMITED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, SAPUTO INCORPORATED
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.
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
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.
BEGA CHEESE LIMITED – ASX BGA, CAPILANO HONEY LIMITED – ASX CZZ, WATTLE HILL, ROC PARTNERS PTY LTD, SAPUTO INCORPORATED, MONDELEZ AUSTRALIA (FOODS) LIMITED
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.
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
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.
BEGA CHEESE LIMITED – ASX BGA, MONDELEZ AUSTRALIA (FOODS) LIMITED, MONDELEZ INTERNATIONAL INCORPORATED, KRAFT FOODS INCORPORATED, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED
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.
LION-DAIRY AND DRINKS PTY LTD, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, FONTERRA BRANDS (AUSTRALIA) PTY LTD, NEW SOUTH WALES FARMERS’ ASSOCIATION
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.
BEGA CHEESE LIMITED – ASX BGA, BLACKMORES LIMITED – ASX BKL, TATURA MILK INDUSTRIES LIMITED
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.
MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, MEAD JOHNSON, KALBE NUTRITIONALS
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.
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