Iconic Aussie drinks such as Dare, Farmers Union Iced Coffee and Daily Juice will not be sold to China after a $600m deal was shot down. "This follows the communication of my preliminary view to Mengniu Dairy that the proposed acquisition would be contrary to the national interest," he said. Today, it released a statement abandoning the deal, over claims approval by the Federal Government was not forthcoming. Lion Dairy and Drinks produces, markets and distributes products across Australia in the milk, dairy, beverages, cheese, yogurt, juice and soy categories. Lion Dairy and Drinks will be back in Australian hands after Bega Cheese announced a more than $500 million deal to buy the company from Japan's Kirin. But the deal quickly became ensnared in the broader geopolitical tensions between Australia and China. In April last year Saputo acquired Lion Dairy & Drinks’ speciality cheese business for $280 million on a cash-free and debt-free basis. Kirin said the future of Lion Dairy and Drinks would be re-examined. China's Foreign Ministry spokesman Zhao Lijian did not comment directly to the decision, but said "we hope Australia will provide fair and unbiased business environment for Chinese companies operating there". A Chinese dairy heavyweight was previously in the hot seat for a $1.5 billion takeover bid, but that was shut down by the federal government in August. The business produces well-known brands including Pura milk, Vitasoy, Farmer’s Union, Daily Juice Company, Masters milk, Yoplait yoghurt and Dare iced coffee products. Corporate Affairs Manager (Media) By 2025, in line with Australian government requirements, our packaging will be 100% recyclable and comprise 50% recycled content, with 0% going to landfill. Lion Dairy and Drinks operates 11 Australian manufacturing facilites and has another two with joint-venture partners. News Kirin eyes alcohol focus in Oceania as Lion Dairy & Drinks sale agreed Andy Morton | 26 November 2020 To read this article and more, including our archive of drinks industry news, analysis & comment pieces from the last 20 years, try just-drinks for 30 days for just $1 Lion Dairy & Drinks Brand Updates COVID-19 has changed how we live, work, shop and it has had a huge impact on our customers and consumers across the country. Big … "Lion notes that China Mengniu Dairy Company Limited has been awaiting the outcome of the Foreign Investment Review Board review of its proposed purchase of Lion Dairy & Drinks," the statement said. Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November, pending approvals. Kirin reportedly restarted efforts to offload Lion Dairy & Drinks in September after a move to sell the business to China Mengniu Dairy Co. hit the buffers earlier this year. Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. The news … 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 development comes amid increasing trade tensions between China and Australia. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. broader geopolitical tensions between Australia and China. The net acquisition price is $534 after a $26 million deduction for IT separation costs. Lion D&D and Saputo both operate dairy processing plants and purchase raw milk from dairy farmers and milk brokers. Lion Dairy & Drinks operates 11 manufacturing sites across Australia and employs around 2300 people locally, with others based in Singapore, Malaysia and China. Lion Dairy and Drinks will be back in Australian hands after Bega Cheese announced a more than $500 million deal to buy the company from Japan's Kirin. Lion Dairy and Drinks has announced its minimum pricing for its direct milk suppliers across key Australian dairying regions for the 2020/2021 milk season. By Stuart Marsh • Senior Producer 1:34pm Nov 26, 2020 Bega Cheese has bought Lion Dairy and Drinks in a $534 million deal that will see it become the new owner of brands such as Farmers Union, Yoplait and Dairy Farmers milk. 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. To participate, consumers will be asked to purchase any Dare Iced Coffee (including Dare Cold Brew) 750ml or less, Farmers Union Iced Coffee 750ml or less, Feel Good 600ml or less, Dairy Farmers Classic 750ml or less, Big M 750ml or less, Masters 750ml or less. Lion - owner of brands like XXXX, Toohey’s, Hahn, James Boag, Dairy Farmers Daily Juice and Yoplait - has been on a wide-ranging digital transformation over the past couple of years. The sale is unconditional, including no further regulatory approvals required and is expected to be completed in early 2021. Bega Cheese has confirmed it will buy Lion Dairy & Drinks for $534 million, substantially boosting its product range and retail presence. The net acquisition price is $534 after a $26 million deduction for IT separation costs. COVID-19 has changed how we live, work, shop and it has had a huge impact on our customers and consumers across the country. 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