Australia puts brakes on Kirin's Lion Dairy & Drinks sale to Mengniu Dairy - report. “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. Dairy giant Saputo is reportedly out of the running to buy another asset in one of the Canada-based group's main overseas markets. Job Title. The Australian Competition and Consumer Commission allowed the sale in February. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). 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 & 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. The net acquisition price is $534 after a $26 million deduction for IT separation costs. The news … The sale is subject to Australian Competition and Consumer Commission (ACCC) and Foreign Investment Review Board … New Claim. 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. The decision is due to the impact of extreme weather on the production cost and availability of milk. Japanese drinks giant Kirin has finished churning through bids for its up-for-sale local dairy and drinks division. The purchase will be completed by the end of January 2021. (AAP) Property News… 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. The sale includes all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets. 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. 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 Mengniu Dairy Company is set to buy Lion Dairy & Drinks business for $600 million, it was announced today (25 November). First Name. Lion has announced it intends to commence a sale process for Lion Dairy and Drinks. 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. Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. Greenhill & Co Australia have acted as independent financial adviser to Lion. Andy Morton | 20 August 2020. Kirin Holdings and Lion have announced an agreement to sell the Dairy & Drinks business to Bega Cheese for A $560 million. 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. The deal is expected to finalised by the second half of 2019. 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 … Take a trial. ASX-listed dairy company Bega Cheese will purchase Lion Dairy and Drinks from Japan's Kirin for $534 million. Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information It has 11 factories around Australia and its suppliers include 280 dairy farmers and 85 fruit growers. 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. 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. 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 sale is unconditional, including no further regulatory approvals required and is expected to be completed in early 2021. Lion Corporate website. Last Name. Dairy and Drinks Sale or Return Claims. 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. The sale of Lion Dairy and Drinks is entering the home straight. 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. ACCC approves the sale of Lion Dairy and Drinks to China's Mengniu, after farmgate milk market competition investigation in Victoria Lion Dairy and Drinks produces, markets and distributes products across Australia in the milk, dairy, beverages, cheese, … Kirin struck a deal in November to divest its Lion Dairy and Drinks subsidiary to China Mengniu Dairy. Lion Dairy's China sale tipped down drain Business . 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