Earlier this year the Coalition introduced temporary new rules to protect financially troubled Australian companies from foreign takeovers. 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. broader geopolitical tensions between Australia and China. Today, it released a statement abandoning the deal, over claims approval by the Federal Government was not forthcoming. 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. But the deal quickly became ensnared in the broader geopolitical tensions between Australia and China. 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. 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. 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'. You may see the campaign on TV, out of home, radio, press and digital as Dairy Farmers continues to celebrate our. Its brands include Dairy Farmers and Pura milk, Masters, Big M flavored milk and plant-based milk Vitasoy. Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. This pricing is applicable from 1 July 2020 to 31 August 2021. 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. 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 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 Lion Dairy and Drinks produces, markets and distributes products across Australia in the milk, dairy, beverages, cheese, yogurt, juice and soy categories. 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 … Lion Dairy & Drinks 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. Lion D&D and Saputo both operate dairy processing plants and purchase raw milk from dairy farmers and milk brokers. 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. 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. 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. 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 … news, local-news, Lions, Cheese, dairy and drinks, saputo. Chinese company to take over Dairy Farmers and Aussie dairy icons for $600m, Have we hit peak China? 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 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. 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 Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November. Phone: 0437 306 437 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. 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. 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 sale is unconditional, including no further regulatory approvals required and is expected to be completed in early 2021. The Australian Competition and Consumer Commission approved the Lion sale in February, after considering the potential impact on competition. 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 tipped as the frontrunner to takeover Lion Drinks & Dairy. Last year the Federal Government approved the sale of Australian infant baby formula business Bellamy's for $1.5 billion to Mengniu. Lion-Dairy and Drinks is engaged in the production and distribution of milk, dairy beverages, cheese, yoghurt, juice and soy. 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. "Given this approval is unlikely to be forthcoming at this time, Lion and Mengniu Dairy have mutually agreed to cease the current sale process. 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. 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 purchase will be completed by the end of January 2021. 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 Dairy & Drinks We produce, market and distribute some of Australia’s most iconic brands in milk, dairy beverages, yoghurt, juice and soy. Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. 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. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. Email: robyn.riley@lionco.com. Corporate Affairs Manager (Media) 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. Here are a few updates of what we’ve been working on, and what’s in store over the next month: Elise Gare 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 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 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. Lion Dairy & Drinks issued the recall of two of its Dairy Farmers milk products which were made and sold in the state. Update on the sale of Lion Dairy & Drinks. Last week the Australian Financial Review reported the Federal Government had decided to block the sale. Saputo, the Canada-based dairy major, has confirmed it is mulling a move to buy another asset in Australia. Lion Dairy, the maker of Dairy Farmers milk, is set to return to Australian hands. 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. ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. 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 and Drinks has announced its minimum pricing for its direct milk suppliers across key Australian dairying regions for the 2020/2021 milk season. 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. 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. Food Safety News. Bega Cheese has confirmed it will buy Lion Dairy & Drinks for $534 million, substantially boosting its product range and retail presence. They also supply dairy products to retailers. 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. Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. We also have a $1 million promotion across a number of categories including our flavoured milk category starting next week. Here's your final national Christmas Day forecast, Rudy, Ivanka and ... 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