Video News Bulletin: 13 June

Every week, Food & Drink Business editor Kim Berry brings you the latest news in the food and beverage manufacturing sector. This week: Farm Pride Food, Australian Vintage, Synlait Milk, Lion, Asahi, and Haigh's Chocolates.

In this episode, Food & Drink Business editor Kim Berry talks to federal MP, Meryl Swanson, about the findings from the recent House Standing Committee on Agriculture inquiry into food security. As chair of the inquiry, Meryl expands on just some of the 35 recommendations and Australia’s food system.

Welcome to The Food & Drink Business Top 100 Food & Drink Companies 2023 report. Compiled in collaboration with IBISWorld, this flagship report ranks by revenue Australia’s biggest players in the food and drink sector. Who made it into the Top 10, which companies rose in the ranks with impressive revenue growth, and which ones fell – it’s a fascinating informative glimpse into Australia’s largest manufacturing sector.

Australian Vintage resumes trading, market capitalisation almost halves

As Australian Vintage announced a successful $15 million capital raise, it lifted its three-week suspension and resumed trading, only to see its market capitalisation almost halve as its share price fell by 45 per cent.

Big Beer also struggling as Lion closes Malt Shovel Brewery

Global beverage company, Lion, says a drop in discretionary spending, the shrinking beer market, and increasing costs forced its closure of the Malt Shovel Brewery in inner Sydney. Malt Shovel Brewery operated for 36 years, it was founded by brewer Chuck Hahn in 1988.

Synlait outlines deleveraging plan

Synlait Milk’s largest shareholder, Bright Dairy, has agreed to provide a NZ$130 million shareholder loan, subject to shareholder approval, as Synlait reveals it is unlikely to meet three of its banking covenants by 31 July.

Fourth-generation chocolatier recognised

The CEO of Haigh’s Chocolates, Alister Haigh, has received the Alfred Stauder Award for Excellence for his outstanding contribution to the confectionery sector in Australia.

Australian wines second only to France at IWC

More than 50 Australian wines received a gold medal at the 2024 International Wine Challenge. That performance put Australia second only to France in the total number of medals and trophies awarded. 

How beverage makers can reduce water consumption

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Allied Pinnacle drives growth with new CMO

Allied Pinnacle has appointed Melinda Taylor as the company’s head of Product and Growth, to drive campaigns that include the recently launched high fibre wheat brand – Wise Wheat.

Australian non-alcoholic wines, spirits shine on global stage

Australian companies made a splash at the World Alcohol-Free Awards in London, with strong performances from Edenvale Wines and Lyre’s Spirits Company.

Lark signs distribution deal with Spirits Platform

Lark Distilling Co has appointed Spirits Platform as its exclusive domestic market distributor. The deal is part of Lark’s growth strategy for its eponymous Single Malt and Blended Whisky and its gin brand, Forty Spotted Gin.

Packaging News

Birds Eye has committed to sourcing post-consumer recycled (PCR) material as part of its broader sustainable packaging journey, commencing with plastic steam bags.

A new national circular economy framework will be released by the end of the year, which will outline innovations and priorities needed for the country to transition.

Raphael Geminder’s $234m bid to take full control of Pact fell short of the 90 per cent ownership he needed on Friday, resulting in the share price dropping by 9 per cent in trading this week.