Hot on the heels of getting a green light to buy Bellamy's Organic for $1.5 billion, China Mengniu Dairy Company has struck a deal to buy Lion's dairy and drinks business for $600 million. See our privacy policy for more information. Tasmanian independent MP Andrew Wilkie and Greens senator Peter Whish-Wilson expressed concern about the newly announced business deal. The Best of 4BC Breakfast with Neil Breen, The Ray Hadley Morning Show with Mark Levy – Full Show, December 24th, The Ray Hadley Morning Show with Mark Levy – Highlights, December 24th, Summer Breakfast with Scott Emerson on 4BC – Full Show 241220, Overnight with Clinton Maynard: 24th December, Wake Up Australia with Clinton Maynard: 24th December. The purchase was confirmed on Thursday, with the net cost totalling $534 million. You can now log in once to listen live, watch live, join competitions, enjoy exclusive 4BC content and other benefits. "This acquisition brings together the best of the East and West, harnessing Mengniu Dairy's networks in existing markets and D&D's leading brands and production capability," he said. The Age and The Sydney Morning Herald have run a series of stories on China in recent days that will add to the tensions. Japanese drinks giant Kirin has finished churning through bids for its up-for-sale local dairy and drinks division. Lion Australia is part of the Lion Group, a wholly-owned subsidiary of Kirin Holdings. It also includes […] Owners approached the Mengniu Dairy ahead of the sale, they said in a statement Monday. Lion Dairy & Drinks We produce, market and distribute some of Australia’s most iconic brands in milk, dairy beverages, yoghurt, juice and soy. Every year we purchase around one billion litres of milk from over 550 Australian dairy farmers, and crush approx. The sale includes all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets. You can now click/tap LISTEN to start the live stream. Pura and a range of other big name Australian dairy brands would be sold to China Mengniu Dairy under a $600 million deal. Japanese brewer Kirin Holdings has reportedly entered into a deal to sell its Lion Dairy & Drinks subsidiary in Australia to local company Bega Cheese. Bega Cheese has acquired Lion Dairy and Drinks for $534 million, returning iconic brands like Dairy Farmers, Farmers Union, Pura Milk, Big M and Yoplait to Australian ownership. If the Mengniu/Lion deal is approved, as a leading dairy industry analyst predicts, it would close Lion's lengthy bid to sell its dairy and drinks business, first announced last year. Lion Dairy & Drinks (LDD), which reintroduced the 50-year-old Masters brand in WA three years ago and produces Masters white milks, iced coffee and flavoured milk drinks as well as Dare and Farmers Union iced coffee and Pura cream, at Bentley, is being sold to China Mengniu Dairy Company Ltd. More than a year after Lion announced plans to sell its Dairy & Drinks business, a deal has been done with China Mengniu Dairy Company for $600 million. The stories have included claims that a Chinese espionage ring attempted to install an agent for Beijing in a seat in Federal Parliament. read more. 'No red flags': Tick tipped for $600m China drink deal despite push back. Lion Dairy and Drinks operates 11 Australian manufacturing facilites and has another two with joint-venture partners. The net acquisition price is $534 after a $26 million deduction for IT separation costs. "I've got concerns that they're going to be taking a big chunk of raw milk production and making a product that they're just going to sell into China. The original forerunner of the company was Brown Campbell & Co, the company of Logan Campbell and William Brown who established the Hobson Bridge Brewery in Auckland in 1840. The company has agreed to pay $600 million for the Melbourne-based Lion Dairy and Drinks business — one of the nation’s biggest milk processors. The sale of Lion Dairy and Drinks is entering the home straight. By Kim Berry | 26 November 2020 Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. An easy and convenient way to place your orders online Sign in. We use cookies in order to personalise your experience and improve our services. Bega Cheese has agreed to acquire Australian Lion Dairy & Drinks from Kirin Holdings for AUD 560 million ($412 million), taking ownership of brands such as Dairy Farmers and Pura. “We haven’t been in that fresh dairy section so now that we’re in fresh dairy it doubles the size of the company, we’ll be a company that now has revenue of over $3 billion, $2.5 billion of which will be in Australia and $500 million overseas,”, “We’re a true scale food company now, it’s very exciting,”. It will undertake a $401 million capital raise with the deal expected to be completed by the end of January. Senior analyst at Rabobank Michael Harvey believes the deal will be approved by Australian regulators. Indicative offers for the $500 million-odd Lion Dairy and Drinks – which makes and sells milk-based drinks, yoghurts and juices – landed on Lion and adviser Deutsche Bank's desk a fortnight ago and the … But the proposed deal, which needs approval from both the Foreign Investment Review Board and the competition regulator, comes at an extremely delicate time in the relationship between Australia and China and will be a test of Australia's attitude to Chinese investment. Bellamy's Organic is an Australian company with a small manufacturing footprint, while Lion is owned by Japan's Kirin Holdings, so is already foreign-owned. Bega Cheese Limited said it has entered into a binding share sale and purchase agreement to acquire all of the shares in Lion Dairy & Drinks from Japan’s Kirin Holdings for a net acquisition price of A$534m (US$393m). Mengniu, one of the world's biggest dairy companies, will acquire major Australian brands including Big M, Dairy Farmers, Pura, Berri and Daily Juice under the deal. Customer Sales and Service. Lion Dairy & Drinks has announced its minimum pricing for its direct milk suppliers across key Australian dairying regions for the 2020/2021 milk season. The purchase will be completed by the end of January 2021. While Lion is a significant player in the dairy sector, it processes less milk than Saputo and Fonterra, which are also foreign-owned. There's no end in sight to the fire sale of Australian and Australian-based companies to the Chinese. A sale would complete Lion's departure from the Australian dairy sector and follows the recent sale of its specialty cheese business to Saputo for $280 million. Dear CCI Member, Lion Dairy & Drinks Business Sale Update . Lion & Dairy Drinks announces competitive minimum pricing for the 2020/21 milk season. australian owned Bega Business Featured Bega Cheese has acquired Lion Dairy and Drinks for $534 million, returning iconic brands like Dairy Farmers, Farmers Union, Pura Milk, Big M and Yoplait to Australian ownership. Co-operative chairman and Gympie dairy farmer, Andrew Burnett said the iconic Dairy Farmers brand is now back in Australian ownership. The news was broke by Japanese news site Nikkei Asia which valued the deal at 40 billion yen (AU$527 million), reporting an official announcement is … 1800 000 570
[email protected]. Pura and a range of other big name Australian dairy brands would be sold to China Mengniu Dairy under a $600 million deal.Credit:Ben Rushton. Lion D&D Customer Service. Bellamy's Organic is an Australian company with a small manufacturing footprint, while Lion is owned by Japan's Kirin Holdings, so is already foreign-owned. Mengniu Dairy will acquire Melbourne-based dairy company Lion Dairy & Drinks, which sells Big M, Dairy Farmers and Dare products. "It's hard to see them (ACCC) having any issue just because it's not a consolidation of retail shelf space or milk collection, or anything like that ... there's no red flags," he said. "Bringing the businesses together will help drive Mengniu Dairy’s growth in the Australian domestic market, while also accelerating Dairy & Drinks’ aspirations in south-east Asia and China," he said. Bega Cheese Executive Chairman Barry Irvin has told Brooke Corte it’s a very big deal. We have a strong track record of maintaining sustainable development in the markets we are in, which has been beneficial to local communities and the broader economy. The Australian Competition and Consumer Commission had earlier signed off on San Miguel Corporation's various Australian acquisitions, noting "there is no overlap between San Miguel's different activities in Australia and hence no change likely to t… "It’s a win-win transaction for two leading dairy companies in Australia and China and represents a compelling opportunity for all stakeholders," he said. Japanese media reported the Lion Dairy and Drinks acquisition was done days ago, saying the price was more than 40 billion yen ($530 million), and speculation mounted when Bega Cheese went into a trading halt pending a capital raising. Lion, which has been on the market for more than 12 months, also owns a beer business that makes Little Creatures, James Squire and Tooheys. The issue here is the increasing concentration of control of Australia's leading brands ... in the hands of a single country where all business enterprises have obligations to the central government," Mr Wilkie said. Mengniu Dairy chief executive Jeffrey Minfang Lu said the proposed acquisition would deliver real opportunities for Australian dairy farmers, fruit growers and regional communities. Order products and manage your account online. In 1914 Campbell and Ehrenfried merged … Username. Last week, The Australian Financial Review reported Bega, one of Australia's major dairy suppliers and home to the Vegemite spreads brand, was vying with investment firm Tanarra Capital to … It will undertake a $401 million capital raise with the deal expected to be completed by the end of January. Lion's Dairy Farmers, Pura Milk and Farmers Union Iced Coffee. X. X. X. X. Bega's big cheese has Aussie dairy ownership plans on world stage ... its $534 million takeover of national processor Lion Dairy and Drinks. The Lion brands in the dairy and drinks division include Dairy Farmers, Masters and Pura milk, Dare and Farmers Union iced coffee, Big M, Vitasoy soy milk and coconut milk … ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. 1800 000 570.
[email protected]. The owner of Farmers Union Iced Coffee and a swag of other key local brands has pulled the plug on a deal that would have seen the Japanese company’s wholly-owned Australian dairy firm Lion Dairy & Drinks sold to a Chinese firm. By 1897 it was the largest brewery in the North Island if not the country. In May 1897 Brown Campbell & Co amalgamated with Louis Ehrenfried's Albert Brewery, which he had bought in 1878, to form Campbell and Ehrenfried. Saputo, the Canadian dairy giant, is no longer in the running after the three suitors tabled bids earlier this month to Lion Dairy & Drinks' owner Kirin Holdings, the newspaper reported. The sale of Lion Dairy and Drinks is entering the home straight. You can now click/tap LATEST NEWS to start the live stream. Lion and parent company, Kirin Holdings, reached an agreement with Mengniu Dairy to part with leading brands such as Dairy Farmers, Dare, Farmers Union, Pura, Berri, Daily Juice and The Juice Brothers. Canadian dairy conglomerate Saputo and financial firm Tanarra Capital were also bidders until recently. 75,000 tonnes of fruit from orchards across the country. You can now click/tap WATCH to start the live stream. Japanese beverage titan Kirin has owned the business, which was previously called National Foods, since 2007 but has been looking for a … The sale includes all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets. That deal wrapped up last month. Lion Dairy & Drinks Portal. "There's no end in sight to the fire sale of Australian and Australian-based companies to the Chinese. National Foods board unanimously accepted the San Miguel Corporation offer. PRINT THIS PAGE. This story Lion sells off specialty cheese business for $280 million first appeared on The Advocate. Kirin is a global, multi-industry food and beverages company headquartered in Tokyo. Japanese drinks company Asahi Group is believed to be in negotiations to buy the remaining assets in the Lion Drinks and Dairy portfolio that is up for sale by its owner, countryman Kirin. Yes, Lion is already Japanese-owned. The ACCC will not oppose the proposed acquisition of Lion Dairy & Drinks Pty Ltd (Lion D&D) by China Mengniu Dairy Company Ltd (Mengniu) after closely considering the potential impact on competition. Lion brands also include Yoplait yoghurt, Vitasoy, Pura and Farmers Union. Lion CEO Stuart Irvine today announced that Kirin Holdings and Lion have reached an agreement to sell the Lion Dairy & Drinks business to the China Mengniu Dairy Company Limited (Mengniu Dairy) for AUD $600 million. "It (Lion) is foreign-owned already, so there's every chance they'll get (FIRB) approval," he said. There are some important differences between Bellamy's and Lion Dairy & Drinks (D&D) that will be considered by FIRB. Mengniu said the Lion business procured the equivalent of about 825 million litres of milk per year. That's just going to take supply off the market," Senator Whish-Wilson said. Careers at Lion . The Chinese government-owned food company COFCO holds about a 16 per cent stake in Mengniu, which itself is listed in Hong Kong. A SECOND iconic Western Australian dairy name, Masters, is about to get a Chinese owner. The Inner Mongolian-based Mengniu Dairy has promised to significantly increase raw milk purchases within Australia and to support high quality, value-added dairy production. In September Lion won approval from the Australian Competition and Consumer Commission to sell its King Island specialty cheese division to big Canadian-owned dairy processor, Saputo Australia for about $280m. Rabobank Michael Harvey believes the deal expected to be completed by the end of 2021! 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