One million litres of milk will be going to people in need under an historic new partnership between Foodbank Australia and the Australian dairy industry, which is being supported by the Australian Government. The Australian Government has pledged A$4 million over the next four years to Foodbank Australia in this year’s budget to ensure the organisation builds new partnerships with food growers, producers and manufacturers. The Collaborative Supply Program for Milk is the first time an entire industry... ...Read more »

Australia’s largest ASX-listed dairy company Bega Cheese has announced plans to complete a merger with Victorian-based dairy co-operative Tatura Milk Industries by the end of 2011. Bega Cheese acquired 70 per cent of Tatura Milk Industries in 2007 for approximately A$39 Million. By agreement made between the two companies in March 2011, Tatura Milk advised Bega Cheese it must be listed with the Australian Securities Exchange (ASX) in order to acquire the remaining shares from Tatura Milk Industries.... ...Read more »

Australian cheese manufacturer Bega Cheese has confirmed that it is in the final stages of preparing a $35 million IPO to list on the Australian Securities Exchange. Bega plans to issue a 15% stake in the company with shares sold at $2 each. The issue will value the company at $254 million. David Williams from Kidder Williams, an advisor working on the IPO, told just-food yesterday that the company plans to release a prospectus next week. He said that cheese products manufactured or cut, packed and... ...Read more »

Bega Cheese has acquired a 15% stake in its rival, Warrnambool Cheese & Butter, with Bega Cheese executive chairman Barry Irvin joining the WCB board, and the two companies forming a strategic management group to “explore and evaluate opportunities for mutually beneficial cooperation”. The $22.6 million placement – 6 million shares at $2.90 – is part of a total capital raising of $37 million, is accompanied by a one-for-six share offer to WCB shareholders, and the issue... ...Read more »

The dairy price crash has failed to stop Bega Cheese from posting a profit in the most recent financial year, although profits were down on the record 2007-2008 FY result. Company Chairman Barry Irvin considers the after-tax profit of $17.5 million – down around $10 million on last year – a strong result given the tumult on global dairy markets. “It is a year like we have never had before both in terms of the global financial crisis and the impact it had on the dairy industry in... ...Read more »

The Australian Competition and Consumer Commission has given approval to Bega to acquire Kraft Foods’ cheese manufacturing plant located at Strathmerton, Victoria, and enter into a supply agreement with Kraft. Under the new ten-year supply arrangement Bega Cheese will manufacture, pack and supply to Kraft those products currently produced at the Strathmerton plant. “At the manufacturing level, the ACCC concluded that the proposed acquisition was unlikely to substantially lessen competition,... ...Read more »

Bega Cheese and Kraft Foods Australia have reached a multi-million dollar agreement, which will create 150 new jobs. It involves Bega purchasing a factory at Strathmerton, in northern Victoria, with Kraft committing to a 10-year supply agreement. Under the agreement, Bega Cheese will in turn provide cheese cutting, packaging and processing expertise and capacity for Kraft’s Australian and New Zealand business through a long term supply agreement, while committing to add significant volume to... ...Read more »

The Minister for Trade Simon Crean announced the 13 category award winners in the 2008 Australian Export Awards on Friday night.Speaking at the National Awards Presentation at the National Gallery of Victoria, Mr Crean said the Australian Export Awards recognise the outstanding achievements of individual Australian enterprises and serve to highlight that the prosperity and employment prospects of all Australians increasingly rely on our ongoing ability to successfully engage with international markets. “Australian... ...Read more »