Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. Today, it released a statement abandoning the deal, over claims approval by the Federal Government was not forthcoming. Phone: 0437 306 437 We’ve already started making these changes, which form part of Our Sustainability Promise, in other states including Western Australia and South Australia, as bottles are a more sustainable solution that can be recycled locally right across Australia. An easy and convenient way to place your orders online Sign in. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. Stripping out … 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. 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. That's Bega Cheese's message to drinks giant Kirin - and its pitch to get exclusive talks to buy the Japanese company's up for sale Australian white milk, milk-based beverages, yoghurt and juice business. The Australian Competition and Consumer Commission approved the Lion sale in February, after considering the potential impact on competition. Lion Dairy & Drinks operates 11 manufacturing sites across Australia and employs around 2300 people locally, with others based in Singapore, Malaysia and China. Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information In a statement, Mr Frydenberg said he had been advised the two companies had "mutually agreed to not proceed with the sale process". Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. 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 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. 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 of the Lion Dairy and Drinks business to ASX-listed food and dairy company, Bega Cheese, has been well received by the company’s largest supplier group, Dairy Farmers Milk … "Given this approval is unlikely to be forthcoming at this time, Lion and Mengniu Dairy have mutually agreed to cease the current sale process. Last November, Chinese dairy company Mengniu Dairy signed an agreement with Kirin Holdings and Lion to acquire the Lion Dairy & Drinks business in Australia for A$600m ($407m). Lion Dairy, the maker of Dairy Farmers milk, is set to return to Australian hands. Lion Dairy & Drinks, formerly known as National Foods, is a major dairy company that produces, markets and distributes some of Australia’s best-known brands in milk, dairy beverages, yoghurt, juice and soy. Kathy Karbatsas was appointed managing director of Lion Dairy & Drinks in December 2017, having joined the business in 2006. Saputo, the Canada-based dairy major, has confirmed it is mulling a move to buy another asset in Australia. This pricing is applicable from 1 July 2020 to 31 August 2021. BEGA Cheese has opened up its share offer to raise $117 million from existing retail shareholders to help pay for its acquisition of Lion Dairy and Drinks… China’s Mengniu Dairy Co. and Lion Dairy & Drinks, a large dairy company in Australia owned by Japan's Kirin Holdings, have mutually agreed to cease a $434 million sale after it became clear that the transaction would likely be denied by the Australian government. Lion Dairy and Drinks produces, markets and distributes products across Australia in the milk, dairy, beverages, cheese, yogurt, juice and soy categories. Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November, pending approvals. We’re transitioning the packaging of our dairy products made on-site at Lenah Valley in Tasmania from cartons to bottles this month. Stripping out … Lion had already sold its specialty cheese business to Saputo Dairy Australia for A$280m (US$190m), a subsidiary of Canada’s Saputo Inc., which concluded on October 28. The Australian Government very quickly declared dairy an essential service and so, throughout this time you kept milking, we kept manufacturing and our consumers kept enjoying our great tasting dairy products. Lion D&D and Saputo both operate dairy processing plants and purchase raw milk from dairy farmers and milk brokers. Kirin Holdings and Lion have today announced an agreement to sell the Dairy & Drinks business to Bega Cheese Limited (Bega) for A $560 million. Emerging from a week-long trading halt, … Earlier this year the Coalition introduced temporary new rules to protect financially troubled Australian companies from foreign takeovers. Chinese company to take over Dairy Farmers and Aussie dairy icons for $600m, Have we hit peak China? She shares the valuable lessons she has learned throughout the company’s evolution and recalls her break from corporate life to help the homeless in Melbourne. But the Treasurer did not provide any further information expanding on his concerns or explaining how the deal would damage Australia's interests. 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 Dairy & Drinks issued the recall of two of its Dairy Farmers milk products which were made and sold in the state. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. Food Safety News. "Lion notes that China Mengniu Dairy Company Limited has been awaiting the outcome of the Foreign Investment Review Board of its proposed purchase of Lion Dairy and Drinks," the statement reads. That's Bega Cheese's message to drinks giant Kirin - and its pitch to get exclusive talks to buy the Japanese company's up for sale Australian white milk, milk-based beverages, yoghurt and juice business. COVID-19 has changed how we live, work, shop and it has had a huge impact on our customers and consumers across the country. Lion Dairy is an Australian company wholly owned by Japan’s Kirin Holdings Co. Kirin said it had agreed with Mengniu Dairy Co to terminate a $600 million transfer deal signed in … COVID-19 has impacted the way people shop and we’ve seen consumers reaching for brands they know and trust, like Yoplait, and we’re giving them another reason to reach for the popular product with $10, $20, $100 or $1000 in instant prizes to be won, simply by purchasing a participating Yoplait product. Its portfolio also includes Dare and Farmers Union iced coffee; Big M, Dairy Farmers and Pura Classic flavoured milk; Vitasoy soy milk and coconut milk; juice brands Daily Juice, The Juice Brothers and Berri; and Yoplait yoghurt, under licence. Australian farmers, Chinese consumers and the tensions in between, Poisoned chalice: Why China's scrutiny of Australian wine is bad news, Too cool for Yule or old-school scorcher? … Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. Today, Kirin released a statement announcing the deal had been abandoned. External Relations Director Remember me Forgot password? "We are disappointed with this outcome and will now consider pathways forward in relation to the Lion Dairy & Drinks business.". Email: elise.gare@lionco.com, Robyn Riley Leite told iTnews that he received about 85 calls “and the same amount of voicemails” from Lion customers trying to place dairy and drinks orders, with calls continuing to come in. The net acquisition price is $534 after a $26 million deduction for IT separation costs. They also supply dairy products to retailers. Last year the Federal Government approved the sale of Australian infant baby formula business Bellamy's for $1.5 billion to Mengniu. Bega’s $534 million deal to buy the Lion Dairy and Drinks business includes $25.9 million in mainly IT separation costs, which Bega says Lion will pay, but is a moot point. Order products and manage your account online. 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