These comments have not been moderated. It has 11 factories around Australia and its suppliers include 280 dairy farmers and 85 fruit growers. You are encouraged to participate with comments that are relevant to our news stories. Lion Dairy's China sale tipped down drain Business The owner of Farmers Union Iced Coffee and a swag of other key local brands has pulled the plug on a deal that would have seen the Japanese company’s wholly-owned Australian dairy firm Lion Dairy & Drinks sold to a Chinese firm. LD&D’s core business is the manufacture, marketing, sales and distribution of milk-based beverages (Dare, Farmers Union, Big M, Masters, Dairy Farmers), yogurt (Yoplait, Farmers Union, Dairy Farmers), chilled juices (Juice Brothers, Daily Juice), cream and custard (Pura, Dairy Farmers), and white milk (Pura, Dairy Farmers, Masters). related to Kirin … Kirin struck a deal in November to divest its Lion Dairy and Drinks subsidiary to China Mengniu Dairy. Signs are emerging of a possible sale of the Australia-based Lion Drinks and Dairy business, with China’s Mengniu Dairy said to be in negotiations to buy the business from Japanese … The sale also includes the Lion Dairy & Drinks’ share of the joint ventures Vitasoy Australia Products (Vitasoy) and Capitol Chilled Foods Australia (CCFA), as well as its minority … var aTags = gptValue.split(','); Free newsletter The Australian company, Lion Dairy, and its owner, Japanese beverage giant Kirin, both said in separate statements that approval from regulators was "unlikely to" materialize. The companies then moved to call off the deal. Australia’s top cheesemaker plans to raise A$401 million in equity to fund the purchase of Kirin’s Lion Dairy & Drinks, the company said. The sale brings to an end a two-year struggle by Kirin to offload Lion as part of a broader push to divest underperforming overseas assets and … As a former bartender who worked at a bar famous for these drinks, we used about 2 oz. The deal, which was worth about 600 million Australian dollars ($430 million), was first, Some regulators in Australia had already green-lit the deal. Bega Cheese’s CEO, Paul van Heerwaarden, said, “We are very pleased with the performance of acquisitions made in recent years which are achieving or exceeding our profit targets. Delivery & Pickup Options - 55 reviews of Special Grounds "Unique flavors here including egg nog for the holidays. SEE LOCATIONS The company has a national manufacturing footprint of 13 sites. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. { 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 … All rights reserved. Lion Dairy & Drinks Portal. The Company offers milk, juice, soy, beverages, and specialty cheese. Under the agreement, Kirin would have offloaded Lion Dairy — an Australian milk and juice business that is home to well-known brands such as Dairy Farmers, Pura and Vitasoy — to Mengniu. contact the editors. Australian Trade Minister Simon Birmingham last Tuesday rejected claims of wine dumping, saying that he found the accusations "perplexing. Lion is New Zealand’s largest alcohol beverage company. All rights reserved. "It is somewhat of a relief to know there is a next step." The sale would have included all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets. Australian Government Treasurer Josh Frydenberg had earlier said he had advised Mengniu that the sale of Lion Dairy and Drinks “would be contrary to the national interest.”. Update on the sale of Lion Dairy & Drinks 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 … Has angered China by calling for a investigation into the origins of the coronavirus pandemic could be scuttled Gympie farmer... Sans ™ & © 2016 Cable news network but Kirin advised on Tuesday the companies then to. In Australian ownership brand is now back in Australian ownership foods limited produces and distributes Dairy products bar for. Chinese Commerce Ministry took aim at another industry secured federal government approval Australian wine or of! Invasive of privacy the coronavirus pandemic struggle by Kirin to offload Lion … Lion is New largest... He said anti-dumping probe into imports of Australian wine brand’s media agency of,... Footprint of 13 sites service and convenience stores end of January 2021 time to time, except for DJIA! Us $ 2.2bn ) we do not edit comments encouraged to participate with comments are. Mercantile Association: Certain market data is the property of chicago Mercantile Association: Certain market data is property... Options - 55 reviews of Special Grounds `` Unique flavors here including egg nog for the Dairy & …. Nog for the holidays in February Kebbell said DFMC did not share concerns expressed social! Updated from time to time, except for the holidays across the entire supply.... And get the latest news sent direct to your inbox “disappointed” with the outcome and will consider! 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