TasFoods says its sale of the former Betta Milk processing site in Burnie, Tasmania has fallen through. CEO, Joshua Fletcher, said the company is seeking damages and will look for a new buyer.
TasFoods sold Better Milk and Meander Valley Dairy to Bega Group in 2023. The sale included the brands, Betta Milk plant and equipment, and a perpetual, royalty free licence to use the Pyengana Dairy brand in Australia.
TasFoods retained the land and buildings at the Burnie site, leasing the site to Bega. It will also retain the lease attached to Meander Valley, subleasing the Launceston site to Bega.
Six months later, Bega closed the factory and consolidated operations at its Lenah Valley plant in Hobart.
Fletcher said the purchaser failed to complete so the sale contract was terminated.
