The net acquisition price is $534 after a $26 million deduction for IT separation costs. Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. The Australian Competition and Consumer Commission approved the Lion sale in February, after considering the potential impact on competition. Email: robyn.riley@lionco.com. 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"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. 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 news … 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. Not an online customer? ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. 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. Here are a few updates of what we’ve been working on, and what’s in store over the next month: Elise Gare 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. 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. But the deal quickly became ensnared in the broader geopolitical tensions between Australia and China. Chinese company to take over Dairy Farmers and Aussie dairy icons for $600m, Have we hit peak China? 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. Lion Dairy & Drinks We produce, market and distribute some of Australia’s most iconic brands in milk, dairy beverages, yoghurt, juice and soy. … 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. 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. This pricing is applicable from 1 July 2020 to 31 August 2021. 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. 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.. Lion has announced it intends to commence a sale process for Lion Dairy and Drinks. Bega Cheese has confirmed it will buy Lion Dairy & Drinks for $534 million, substantially boosting its product range and retail presence. Kathy Karbatsas was appointed managing director of Lion Dairy & Drinks in December 2017, having joined the business in 2006. "This follows the communication of my preliminary view to Mengniu Dairy that the proposed acquisition would be contrary to the national interest," he said. 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. 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". 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. Its brands include Dairy Farmers and Pura milk, Masters, Big M flavored milk and plant-based milk Vitasoy. Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information Under the agreement, Kirin would have offloaded Lion Dairy — an Australian milk and juice business that is home to well-known brands such as … Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. 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. Lion Dairy & Drinks Last year the Federal Government approved the sale of Australian infant baby formula business Bellamy's for $1.5 billion to Mengniu. LDD procures approximately 825m liters of milk equivalent and 50m kilograms of fresh fruit from approximately 280 farmers and 85 fruit growers annually. You may see the campaign on TV, out of home, radio, press and digital as Dairy Farmers continues to celebrate our. An easy and convenient way to place your orders online Sign in. 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