Bega Cheese’s acquisition of Lion Dairy & Drinks has been completed, with brands Dairy Farmers, Pura, Farmers Union, Big M, Daily Juice, The Juice Brothers and Berri joining the Bega stable. Bega’s product range now includes fresh milk, flavoured milk, yoghurt, juice, cream and custard alongside its traditional dairy and grocery business.
The brands acquired by Bega include:
- milk based beverages (Dare, Farmers Union, Big M, Masters, Dairy Farmers, Canberra Milk);
- yoghurt (Yoplait, Farmers Union, Dairy Farmers, The Culture Co);
- juices (Daily Juice, The Juice Brothers, Mildura, Prima and Berri);
- cream and custard (Pura, Dairy Farmers); and
- white milk (Pura, Dairy Farmers, Masters, The Complete Dairy and Canberra Milk).
Bega Cheese chair Barry Irvin said the company was “delighted” to have “such treasured brands” officially part of the Bega family and back in Australian hands.
“Bega has been working hard to create a great Australian food company, and in addition to acquiring such great brands, we look forward to welcoming a large and talented team into our business,” said Irvin.
The company also expands its physical footprint, with its operations growing from eight manufacturing sites across three states to 20 manufacturing sites (plus a joint venture) across six states and one territory – New South Wales, Victoria, Queensland, South Australia, Tasmania, ACT and Western Australia.
The sale was announced in November, when Bega Cheese said it would acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. The net acquisition price is $534 after a $26 million deduction for IT separation costs.