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Bega Dairy & Drinks is a subsidiary of Australian diversified food company the Bega Group, having been purchased from the Japanese company Kirin (who owns Lion in Australia) in November 2020. [1] While owned by Kirin, it was known as Lion Dairy & Drinks .
The Bega Group is an Australian diversified food and drinks company with manufacturing sites in New South Wales, Queensland, Western Australia and Victoria. Founded as an agricultural cooperative in the town of Bega, New South Wales by their dairy suppliers, it became a public company in 2011 when it listed on the Australian Securities Exchange.
Kirin Holdings Company Limited of Japan, via its subsidiary National Foods, acquired the company in November 2008, and renamed "National Foods" as "Lion Dairy & Drinks" the following year. On 23 November 2020, a deal was announced that would allow Bega Cheese to buy Lion Dairy & Drinks, and all subsidiaries, including Dairy Farmers.
In November 2020, Australian company Bega Cheese purchased Lion Dairy & Drinks from Japan's Kirin Holdings, acquiring Big M and other notable brands from the Japanese entity. [1] This acquisition followed an earlier attempt made by Mengniu Dairy to acquire the brand in November 2019, which was rejected by the Foreign Investment Review Board .
In November 2019 China's Mengniu Dairy purchased Lion Dairy from Kirin. [11] Bega Cheese announced on 26 November 2020 that it had agreed terms to purchase Lion Dairy & Drinks for $534 million. [12] The sale was completed in January 2021. [13]
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The Vegemite brand was owned by Mondelez International (formerly Kraft Foods Inc. until 2012) [12] until January 2017, when it was acquired by the Australian Bega Group in a US$460,000,000 agreement for full Australian ownership after Bega would buy most of Mondelez International's Australia and New Zealand grocery and cheese business. [21]
The multinational company Bega Dairy & Drinks has a controlling interest in Capitol Chilled Foods, which is the Australian Capital Territory's sole dairy manufacturer. Bega Cheese Ltd owns a 25% stake. [2] [3] [4] Canberra Milk has previously sponsored local sports teams the Brumbies, [5] and are a foundation sponsor of the Canberra Raiders. [6]