Kirin said the future of Lion Dairy and Drinks would be re-examined. Mr Frydenberg has been contacted for comment. Every year we purchase around one billion litres of milk from over 550 Australian dairy farmers, and crush approx. 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. 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. Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information Bega Cheese has agreed to acquire Australian Lion Dairy & Drinks from Kirin Holdings for AUD 560 million ($412 million), taking ownership of brands such as Dairy Farmers and Pura. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. The purchase will be completed by the end of January 2021. 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 & Drinks. Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November, pending approvals. 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? The Federal Government is still working on a broader overhaul of foreign investment laws which will require the Treasurer to sign off on foreign investments which have national security implications. Update on the sale of Lion Dairy & Drinks. LDD procures approximately 825m liters of milk equivalent and 50m kilograms of fresh fruit from approximately 280 farmers and 85 fruit growers annually. Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November. 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… Kirin Holdings and Lion have today announced an agreement to sell the Dairy & Drinks business to Bega Cheese Limited (Bega) for A $560 million. Lion Dairy, the maker of Dairy Farmers milk, is set to return to Australian hands. Lion Dairy & Drinks "Given this approval is unlikely to be forthcoming at this time, Lion and Mengniu Dairy have mutually agreed to cease the current sale process. 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. Dairy Farmers is one of the key dairy brands in the Lion Dairy and Drinks portfolio. Order products and manage your account online. The sale is unconditional, including no further regulatory approvals required and is expected to be completed in early 2021. Lion has announced it intends to commence a sale process for Lion Dairy and Drinks. Bega Cheese to buy Lion Dairy & Drinks - report Simon Harvey | 23 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 news, local-news, Lions, Cheese, dairy and drinks, saputo. Now, Bega Cheese is the frontrunner to snap up the company in a mooted $500 million deal, according to The Australian. NSW has recorded nine new cases of coronavirus, seven are linked to the Avalon cluster, Queensland has recorded one new coronavirus case in home quarantine — a man in his 40s who visited the northern beaches, NSW Premier Gladys Berejiklian gives a coronavirus update, Follow our live coverage for the latest news on the coronavirus pandemic, By national rural reporter Kath Sullivan and foreign affairs reporter Stephen Dziedzic. 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. Bega Cheese has confirmed it will buy Lion Dairy & Drinks for $534 million, substantially boosting its product range and retail presence. 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 … Corporate Affairs Manager (Media) A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). 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. 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. Email: robyn.riley@lionco.com. Lion has been advised by Deutsche Bank as financial adviser, with King & Wood Mallesons as legal adviser. Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. The Australian Competition & Consumer Commission (ACCC) today (20 October) invited interested parties to submit their views, disclosing Saputo "proposes to acquire" Lion Dairy & Drinks from Japan's Kirin Holdings. External Relations Director They also supply dairy products to retailers. This pricing is applicable from 1 July 2020 to 31 August 2021. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Australia secures agreements for distribution of three COVID-19 vaccines, Live: Sydney CBD warning over concerns worker may have been infectious, Serious concerns over another mutated coronavirus strain in UK, Natasha's elderly mother lives just across town from her, but they'll be apart this Christmas, The Claremont killer's sentencing belonged to the two women who survived his sadistic attacks, The CIA's culture war, North Korea's propaganda makeover and Christmas lights, Donald Trump just vetoed a bill considered sacrosanct by many in Congress, Three-year-old girl survives venomous snake bite thanks to Nanna's quick-thinking, Kim's partner beat her until she blacked out, but his club let him play footy on bail. Australian food manufacturer Bega Cheese is reportedly the front-runner to buy local peer Lion Dairy & Drinks. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. A $600 million deal to sell the maker of Pura milk, Dare iced coffee and Yoplait yoghurt to a Chinese company has been terminated, after Treasurer Josh Frydenberg decided the sale was "contrary to the national interest". "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. On Friday 26 April 2019 Lion CEO Stuart Irvine provided an update on the sale of Lion Dairy & Drinks (LDD), including confirmation that Kirin and Lion have reached an agreement to sell the Lion Specialty Cheese Business to Saputo Dairy Australia (Saputo) on a standalone basis. ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. Greenhill & Co Australia have acted as independent financial adviser to Lion. The purchase will be completed by the end of January 2021. Stripping out … Remember me Forgot password? Here are a few updates of what we’ve been working on, and what’s in store over the next month: Elise Gare The Lion dairy and drinks unit, which owns brands such as Big M, dare, Pura, Dairy Farmers, King Island Cheese and Berri, saw revenue slip 1.9 … Kirin said the future of Lion Dairy and Drinks would be re-examined. Kathy Karbatsas was appointed managing director of Lion Dairy & Drinks in December 2017, having joined the business in 2006. Bega Cheese is in the box seat to buy Lion's Dairy and Drinks business, which includes labels like Pura Milk, for about $550 million. Big … 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. Under the agreement, Kirin would have offloaded Lion Dairy — an Australian milk and juice business that is home to well-known brands such as … 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. Shake To Win is an on-pack consumer promotion, where we are giving away up to $1 Million in Prizes with prizes of up to $1000 to be won instantly. … 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 In a statement, Mr Frydenberg said he had been advised the two companies had "mutually agreed to not proceed with the sale process". We also have a $1 million promotion across a number of categories including our flavoured milk category starting next week. "We are disappointed with this outcome and will now consider pathways forward in relation to the Lion Dairy & Drinks business.". The deal to sell beverage producer Lion Dairy and Drinks to a Chinese company was abandoned after the plan failed to win the approval of the Foreign Investment Review Board. BEGA Cheese has been placed in trading halt today with speculation mounting it was set to buy Lion Dairy and Drinks. The sale is unconditional, including no further regulatory approvals required and is expected to be completed in early 2021. Bega Cheese has agreed to acquire Lion Dairy & Drinks for AUD560 million ($412 million) from Australian food and beverage company Lion, which in turn is a subsidiary of Japanese beverage company Kirin Holdings. Bega Cheese has agreed to acquire Lion Dairy & Drinks for AUD560 million ($412 million) from Australian food and beverage company Lion, which in turn is a subsidiary of Japanese beverage company Kirin … China Mengniu Dairy has walked away from its proposed $600 million acquisition of Lion Dairy & Drinks after Treasurer Josh Frydenberg said the deal would be 'contrary to the national interest'. 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… 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. 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. Beijing has hit several Australian exporters with trade sanctions, while a number of federal MPs and senators have campaigned against the Lion deal, warning that it could undermine local milk supplies. Chinese company to take over Dairy Farmers and Aussie dairy icons for $600m, Have we hit peak China? 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. Phone: 0419 255 118 Lion is an alcoholic beverage company that operates in Australia and New Zealand, and a subsidiary of Japanese beverage giant Kirin.It produces and markets a range of beer and cider in Australia, and wine in New Zealand and the United States through Distinguished Vineyards & Wine Partners. The news … Phone: 0437 306 437 "This follows the communication of my preliminary view to Mengniu Dairy that the proposed acquisition would be contrary to the national interest," he said. 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 … 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. Last year the Federal Government approved the sale of Australian infant baby formula business Bellamy's for $1.5 billion to Mengniu. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. 75,000 tonnes of fruit from orchards across the country. Bega Cheese has agreed to acquire Australian Lion Dairy & Drinks from Kirin Holdings for AUD 560 million ($412 million), taking ownership of brands such as Dairy Farmers and Pura.. The net acquisition price is $534 after a $26 million deduction for IT separation costs. Lion Dairy & Drinks (LD&D Milk Pty Ltd and LD&D Foods Pty Ltd), is a subsidiary of Australian diversified food company Bega Cheese.. LD&D's factories (which carry the "Pura" branding) are located in: Chelsea Heights, Melbourne; Salisbury, Adelaide; Bentley, Perth; These sites are also printed on the back of all fresh milk bottles in Victoria, South Australia and Western Australia respectively. "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. Part of the sale are all the white milk, milk-based beverages (MBB), yoghurt, juice and water ice brands and assets of Lion Dairy & Drinks. Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. Lion owns several iconic brands including Dairy Farmers, Masters and Pura milk. 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 & Drinks Portal. Lion Dairy & Drinks We produce, market and distribute some of Australia’s most iconic brands in milk, dairy beverages, yoghurt, juice and soy. The net acquisition price is $534 after a $26 million deduction for IT separation costs. 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. 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. 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. An easy and convenient way to place your orders online Sign in. Earlier this year the Coalition introduced temporary new rules to protect financially troubled Australian companies from foreign takeovers. Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. In April last year Saputo acquired Lion Dairy & Drinks’ speciality cheese business for $280 million on a cash-free and debt-free basis. China Mengniu Dairy has called off its plan to buy an Australian drinks business for $430 million after the government in Australia said it would likely oppose the deal. 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. Last week the Australian Financial Review reported the Federal Government had decided to block the sale. Dairy processor and drink manufacturer Lion has confirmed it has been forced to shut down production after being hit by a cyber attack on Monday. South coast blue chip company Bega Cheese has acquired the Lion Dairy and Drinks business for $560 million, adding a string of new brands to … Lion Dairy and Drinks operates 11 Australian manufacturing facilites and has another two with joint-venture partners. Emerging from a week-long trading halt, … 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. ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. 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. Username. 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. The development comes amid increasing trade tensions between China and Australia. But the Treasurer did not provide any further information expanding on his concerns or explaining how the deal would damage Australia's interests. Its brands include Dairy Farmers and Pura milk, Masters, Big M flavored milk and plant-based milk Vitasoy. The Australian Competition and Consumer Commission approved the Lion sale in February, after considering the potential impact on competition. COVID-19 has changed how we live, work, shop and it has had a huge impact on our customers and consumers across the country. Next week our Yoplait on-pack promotion kicks off across the country with up to $1million of prizes up for grabs. Lion D&D and Saputo both operate dairy processing plants and purchase raw milk from dairy farmers and milk brokers. Today, it released a statement abandoning the deal, over claims approval by the Federal Government was not forthcoming. 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. We’re transitioning the packaging of our dairy products made on-site at Lenah Valley in Tasmania from cartons to bottles this month. But the deal quickly became ensnared in the broader geopolitical tensions between Australia and China. 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. The two products included in the recall are Dairy Farmers, 1L and 3L Full Cream White Milk with use-by date of February 25 and February 24 respectively. broader geopolitical tensions between Australia and China. Lion Dairy & Drinks issued the recall of two of its Dairy Farmers milk products which were made and sold in the state. Dairy Farmers celebrates our dairy farmer partners in its latest campaign, including the television commercial  that shows the journey of our Dairy Farmers products from farm to fridge. There are concerns that consuming these products may cause illness. Its iconic dairy brands include Famers Union, Feel Good Iced Coffee, Yoplait, Dairy … Lion Dairy & Drinks operates 11 manufacturing sites across Australia and employs around 2300 people locally, with others based in Singapore, Malaysia and China. Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. Lion-Dairy and Drinks is engaged in the production and distribution of milk, dairy beverages, cheese, yoghurt, juice and soy. Subscribe to Lion Dairy & Drinks. Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information 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. 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’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. Food Safety News. Bega Cheese has been tipped as the frontrunner to takeover Lion Drinks & Dairy. Mengniu Dairy chief executive Jeffrey Minfang Lu said the acquisition would benefit both Lion Dairy & Drinks and Mengniu Dairy as well as providing opportunities for Australian dairy farmers and fruit growers, by opening up a significant channel to China. 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". Not an online customer? 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. 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. 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). Stripping out … 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. Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. Here's your final national Christmas Day forecast, Rudy, Ivanka and ... 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