Japanese beer and beverage giant Kirin has announced a strategic review for Lion Dairy and Drinks - a producer and distributor of dairy products and beverages in Oceania – with the sale … Lion CEO Stuart Irvine has confirmed on Friday that its parent company Kirin has offloaded its specialty cheese business to dairy giant Saputo Dairy Australia for A$280 million. The sale of Lion Dairy and Drinks is entering the home straight. Bega Cheese has announced it will acquire all shares in Lion Dairy & Drinks (LDD) for $560 million. Last Name. Greenhill & Co Australia have acted as independent financial adviser to Lion. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. Dairy giant Saputo is reportedly out of the running to buy another asset in one of the Canada-based group's main overseas markets. Freedom Foods had been bidding with Coca-Cola Amatil for some of LDD’s assets, but the US beverage giant pulled out of the bid process. 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. Dairy and Drinks Sale or Return Claims. Kirin struck a deal in November to divest its Lion Dairy and Drinks subsidiary to China Mengniu Dairy. See what Bega paid and how they plan to … Kirin has kicked off a formal sale process for its $1.8 billion Australian dairy and juice business, Lion Dairy & Drinks (LDD) after completing a strategic review earlier this week. Japanese drinks giant Kirin has finished churning through bids for its up-for-sale local dairy and drinks division. China Mengniu Dairy Company is set to buy Lion Dairy & Drinks business for $600 million, it was announced today (25 November). The sale includes all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets. Kirin reportedly restarted efforts to offload Lion Dairy & Drinks in September after a move to sell the business to China Mengniu Dairy Co. hit ... NEWS. Based in Docklands, Lion Dairy & Drinks employs about 2300 people nationally. 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.. First Name: Surname: Phone Number: Email Address: Customer Number: Click here to enter your own claim reference number. Lion Dairy and Drinks produces, markets and distributes products across Australia in the milk, dairy, beverages, cheese, … Australia puts brakes on Kirin's Lion Dairy & Drinks sale to Mengniu Dairy - report. Lion Dairy's China sale tipped down drain Business . Key points: Bega Cheese hopes to raise $401 million by offering 87 million new … Bega Cheese has bought Lion Dairy and Drinks in a $534 million deal that will see it become the new owner of brands such as Farmers Union, Yoplait and Dairy Farmers milk. China Mengniu Dairy Company Limited is buying Lion-Dairy and Drinks Pty Ltd (LDD) from Japan’s Kirin Holdings Company Limited. Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information ACCC approves the sale of Lion Dairy and Drinks to China's Mengniu, after farmgate milk market competition investigation in Victoria Bega Cheese chairman Barry Irvin has confirmed the purchase of Lion Dairy and Drinks, saying it will create significant value for shareholders. The deal is expected to finalised by the second half of 2019. The purchase will be completed by the end of January 2021. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. The Australian Competition and Consumer Commission allowed the sale in February. Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. Job Title. First Name. China Mengniu Dairy has called off its plan to buy an Australian drinks business for $430 million after the government in Australia said it would likely oppose the deal. (AAP) Property News… The sale is subject to Australian Competition and Consumer Commission (ACCC) and Foreign Investment Review Board … The decision is due to the impact of extreme weather on the production cost and availability of milk. Dear CCI Member, Lion Dairy & Drinks Business Sale Update . Take a trial. Kirin Holdings is to sell its Lion Dairy & Drinks business to Bega Cheese for AUD534m (US$393m), marking the company's exit from the non-alcoholic drinks category in Australia and New Zealand. “BUSINESS as usual” is the message Lion Dairy and Drinks (LDD) has passed to its 29 WA dairy farmer suppliers after parent Lion announced the dairy division is for sale. New Claim. Kirin and Lion know that the company has the financial power and stomach to swallow the portfolio, and shares something of a darling status in Canberra, where its most recent attempt to sell Lion Dairy & Drinks fell over. Lion has announced it intends to commence a sale process for Lion Dairy and Drinks. Andy Morton | 20 August 2020. TPG Capital is believed to have entered the contest to buy Lion Drinks and Dairy, joining other private equity rivals also in talks about an acquisition of the assets. The news … Email. Lion Dairy & Drinks is one of four divisions: alongside XXXX maker Lion Beer Australia, Lion Beer, Spirits and Wine New Zealand, and Lion Global Markets. It has 11 factories around Australia and its suppliers include 280 dairy farmers and 85 fruit growers. Kirin and Lion said they considered all options for LDD, from a continuation of investment and retaining the business to a sale of LDD. related to Beer & cider, Mergers & acquisitions, Soft drinks, Water, Kirin, 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. It also knows how interested Bega was previously, and the time it spent getting to understand the up-for-sale business. The net acquisition price is $534 after a $26 million deduction for IT separation costs. 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. 25 November 2019: Lion CEO Stuart Irvine today announced that Kirin Holdings and Lion have reached an agreement to sell the Lion Dairy & Drinks business to the China Mengniu Dairy Company Limited (Mengniu Dairy) for AUD $600 million. Major beverage company, Lion has announced that it will be putting its subsidiary Lion Dairy and Drinks up for sale. Lion has been advised by Deutsche Bank as financial adviser, with King & Wood Mallesons as legal adviser. Leite told iTnews that he received about 85 calls “and the same amount of voicemails” from Lion customers trying to place dairy and drinks orders, with calls continuing to come in. Lion Corporate website. "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. 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. 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 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 … 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. 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