Tag: Bega Cheese

Japanese beverage company Kirin to sell Australia dairy unit to Bega Cheese

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AUSTRALIA – Japanese beverage company Kirin Holdings has confirmed a potential sale of its Australian dairy Unit Lion Dairy & Drinks to Bega Cheese in a deal estimated to be worth over US$400 million. This is the second attempt by the Japanese beverage company to offload its Australian dairy unit after the first attempt to sell to China Mengniu Dairy failed following fears that it was likely to be blocked by the Australian government.  Founded in 1991 by Adelaide Steamship Company, Lion Dairy & Drink specialises in dairy food and…

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Dairy company Bega Cheese takes 11.2% stake in honey producer Capilano Honey

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AUSTRALIA – Bega Cheese, an Australian dairy company, has increased its stake from 8.39% to 11.2% shareholding in honey producer company Capilano Honey. According to Weekly Times, the company began buying small parcels of shares at about US$16 apiece from May to August 13, when Capilano announced it was entering into a scheme implementation arrangement with HoldCo. HoldCo is jointly owned by private equity fund Wattle Hill RHC and investment manager ROC Capital. Wattle Hill’s founding partner is Albert Tse, husband of Jessica Rudd, daughter of former Prime Minister Kevin…

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Australian dairy company Bega Cheese to acquire Capilano Honey firm

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AUSTRALIA – Bega Cheese, an Australian dairy company, has confirmed it bought a parcel of shares in Capilano Honey, which is already subject to a bid from elsewhere. According to News.com, Bega said it has paid US$5.38 million for 255,291 Capilano shares at an average of US$21.08 per security, taking its stake in the company to 5.76 per cent. Bega’s purchase should make it the second largest shareholder in Capilano, which last month said it had received a bid from Australian-Chinese private equity fund Wattle Hill. Capilano shares rose 0.24…

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