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. The net acquisition price is $534 after a $26 million deduction for IT separation costs. 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". Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information 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. The net acquisition price is $534 after a $26 million deduction for IT separation costs. Email: elise.gare@lionco.com, Robyn Riley 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. 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. 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… An easy and convenient way to place your orders online Sign in. 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. 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. The purchase will be completed by the end of January 2021. Kirin said the future of Lion Dairy and Drinks would be re-examined. Australian food manufacturer Bega Cheese is reportedly the front-runner to buy local peer Lion Dairy & Drinks. Lion has announced it intends to commence a sale process for Lion Dairy and Drinks. Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November, pending approvals. The news … Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. 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". 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. 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. 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 & Drinks Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. 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). 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. 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. 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. 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. Email: robyn.riley@lionco.com. 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. Last year the Federal Government approved the sale of Australian infant baby formula business Bellamy's for $1.5 billion to Mengniu. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). Last week the Australian Financial Review reported the Federal Government had decided to block the sale. In a statement, Mr Frydenberg said he had been advised the two companies had "mutually agreed to not proceed with the sale process". Lion owns several iconic brands including Dairy Farmers, Masters and Pura milk. 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 purchase will be completed by the end of January 2021. Kathy Karbatsas was appointed managing director of Lion Dairy & Drinks in December 2017, having joined the business in 2006. 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. 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. Saputo, the Canada-based dairy major, has confirmed it is mulling a move to buy another asset in Australia. 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 has been advised by Deutsche Bank as financial adviser, with King & Wood Mallesons as legal adviser. 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. Lion-Dairy and Drinks is engaged in the production and distribution of milk, dairy beverages, cheese, yoghurt, juice and soy. In April last year Saputo acquired Lion Dairy & Drinks’ speciality cheese business for $280 million on a cash-free and debt-free basis. Next week our Yoplait on-pack promotion kicks off across the country with up to $1million of prizes up for grabs. "We are disappointed with this outcome and will now consider pathways forward in relation to the Lion Dairy & Drinks business.". Password. Earlier this year the Coalition introduced temporary new rules to protect financially troubled Australian companies from foreign takeovers. Here are a few updates of what we’ve been working on, and what’s in store over the next month: Elise Gare Every year we purchase around one billion litres of milk from over 550 Australian dairy farmers, and crush approx. "This follows the communication of my preliminary view to Mengniu Dairy that the proposed acquisition would be contrary to the national interest," he said. 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