Lion's $280m cheese sale to Saputo gets ACCC green light 1 year, 2 months ago ACCC ticks Lion-Saputo cheese deal, but is wary of more mergers Andrew Marshall @BurrenAndrew 26 Sep 2019, 11 a.m. Dairy processor and drink manufacturer Lion has confirmed it has been forced to shut down production after being hit by a cyber attack on Monday. ACCC approves the sale of Lion Dairy and Drinks to China's Mengniu, after farmgate milk market competition investigation in Victoria Share. Email Print Friendly Share. Font size Email Print. “We are continuing to consider various pathways forward for the balance of the Dairy & Drinks business and will take the time to ensure we achieve the best possible outcome over the coming period,” Irvine concluded. Lion is a leading beverage and food company with a portfolio that includes many of Australasia’s favourite brands in beer, wine and dairy. 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. related to Beer & cider, Mergers & acquisitions, Soft drinks, Water, Kirin, You’ve reached your limit of free reads this month. An easy and convenient way to place your orders online Sign in. After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo. 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. Milkline; Lion Dairy Pride; Lion Corporate; Dairy Australia; Lion Sustainability Lion has been advised by Deutsche Bank as financial adviser, with King & Wood Mallesons as legal adviser. Lion Dairy & Drinks $600 million sale to Mengniu Dairy falls through by Naomi White August 25, 2020 The proposed $600 million sale of Lion Dairy & Drinks to Chinese owned Mengniu Dairy has fallen through. Email: [email protected], Introducing Dare Double Espresso No Sugar Added. Lion D&D Customer Service. Latest updates here; News . Australian authorities are poised to block Kirin's proposed sale of Lion Dairy & Drinks to China's Mengniu Dairy, according to a local report. Order products and manage your account online. 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. “When we announced the decision to progress a sale of the Dairy & Drinks business last year, we made clear our intention to identify the best future ownership arrangements for the Dairy & Drinks business, and to ensure both Dairy & Drinks and the Lion business are ideally positioned for growth – with the right people, assets and investment behind their respective strategies,” said Irvine. Greenhill & Co Australia have acted as independent financial adviser to Lion. Font size Email Print. Lion’s non-cash write down of AUD 530 million does not impact the future underlying performance of the Dairy & Drinks business, which continues to benefit from a highly attractive portfolio of market-leading brands in growing categories – including milk-based beverages, yoghurt and premium juice. Lion - Dairy & Drinks Australia . 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 H1 Trading Update. Lion Dairy's China sale tipped down drain Business . The recent impact of extreme weather on the cost and availability of milk, combined with discussions with bidders to date in the sale process, have led Lion and its parent Kirin to take the step of recognising a non-cash write down of the carrying value of Dairy & Drinks, including the cheese business. Password. 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. Greenhill & Co Australia have acted as independent financial adviser to Lion. Lion CEO Stuart Irvine said: “Following careful consideration, we believe a sale of LDD is the best option to set both Lion and LDD up with the capital and resources needed to grow into the future. The Australian Competition and Consumer Commission allowed the sale in February. related to Beer & cider, Mergers & acquisitions, Soft drinks, Water, Kirin, You’ve reached your limit of free reads this month. Speculation grows about sale of Lion dairy brands. Indicative offers for the $500 million-odd Lion Dairy and Drinks – which makes and sells milk-based drinks, yoghurts and juices – landed on Lion and adviser Deutsche Bank's desk a fortnight ago and the race has entered its … Treasurer Josh Frydenberg has welcomed Lion's decision to abandon the sale of its $600 million dairy and drinks business to China Mengniu Dairy after it was told it was unlikely to win approval from Australian regulators. It comes after the sale process for Lion’s Australian assets ended earlier in … Tweet. Lion’s non-cash write down of AUD 530 million does not impact the future underlying performance of the Dairy & Drinks business, which continues to benefit from a highly attractive portfolio of market-leading brands in growing categories – including milk-based beverages, yoghurt and premium juice. “When we announced the decision to progress a sale of the Dairy & Drinks business last year, we made clear our intention to identify the best future ownership arrangements for the Dairy & Drinks business, and to ensure both Dairy & Drinks and the Lion business are ideally positioned for growth – with the right people, assets and investment behind their respective strategies,” said Irvine. Lion Dairy & Drinks Portal. Saputo is ideally positioned to drive the business forward, given its deep dairy capabilities, complementary portfolio and commitment to the cheese category domestically.”. Corporate Affairs Manager (Media) UPDATE: BEGA Cheese plans to raise about $401 million through a share offering to help cover the $560 million it will pay for the Lion Dairy and Drinks business. 1:54pm Aug 25, 2020. Lion Australia is part of the Lion Group, a wholly-owned subsidiary of Kirin Holdings. Japanese drinks company Asahi Group is believed to be in negotiations to buy the remaining assets in the Lion Drinks and Dairy portfolio that is up for sale by its owner, countryman Kirin. Not an online customer? New Claim. By AFN Staff Writers. It also knows how interested Bega was previously, and the time it spent getting to understand the up-for-sale business. Speculation grows about sale of Lion dairy brands. Lion Dairy's soft-drink business has suffered from sluggish growth, and its earnings took a further beating from soaring milk purchasing costs due to such factors as a drought. 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 Australia (Saputo) on a standalone basis. Japanese drinks giant Kirin has finished churning through bids for its up-for-sale local dairy and drinks division. "Our partners, Lion, have had international owners for more than a decade," he said. 26 June 2020: Over the past week, Lion has continued to make progress in restoring many of our key systems following the cyber attack that caused a partial IT outage. ACCC approves the sale of Lion Dairy and Drinks to China's Mengniu, after farmgate milk market competition investigation in Victoria Share. External Relations Director Username. New customer registration COVID-19 has changed how we live, work, shop and it has had a huge impact on our customers and consumers across the country. If you have trouble logging in, please contact: Customer Sales and Service . Mr Kebbell said DFMC did not share concerns expressed on social and tabloid media about Chinese ownership. It also knows how interested Bega was previously, and the time it spent getting to understand the up-for-sale business. The sale agreement is subject to ACCC and Foreign Investment Review Board approvals and other standard closing conditions and is expected to complete within the second half of calendar year 2019. 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. Dairy processor and drink manufacturer Lion has confirmed it has been forced to shut down production after being hit by a cyber attack on Monday. Sources close to food and beverage company Lion are downplaying suggestions that its dairy business National Foods is for sale, despite growing speculation that it is on the market, according to reports... Kirin launches ‘Japan-inspired’ cider range exclusive to Australia. 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. The sale to Saputo will include all of Dairy & Drinks’ specialty cheese brands, including King Island Dairy, Tasmanian Heritage, South Cape, Mersey Valley, Heidi Farm and Australian Gold, as well as cheese manufacturing assets at Burnie (The Heritage) and King Island (King Island Dairy and Cheese Store), and the two Lion-owned farms on King Island (Horizon Glen and Kyeema). Sydney, NSW 2000, Australia, Locked Bag 14, Royal Exchange Sydney, NSW 1225, 27 Napier Street, Freemans Bay, The recent impact of extreme weather on the cost and availability of milk, combined with discussions with bidders to date in the sale process, have led Lion and its parent Kirin to take the step of recognising a non-cash write down of the carrying value of Dairy & Drinks, including the cheese business. Sources close to food and beverage company Lion are downplaying suggestions that its dairy business National Foods is for sale, despite growing speculation that it is on the market, according to reports... Kirin launches ‘Japan-inspired’ cider range exclusive to Australia. Aa . Lion Dairy & Drinks (LD&D Milk Pty Ltd and LD&D Foods Pty Ltd), is a subsidiary of Australian diversified food company Bega Cheese. 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. NZ: 0800 730 732. Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. Kirin Holdings and Lion announce agreement to sell Dairy & Drinks to Bega Cheese Limited. Based in Docklands, Lion Dairy & Drinks employs about 2300 people nationally. Kirin recently told investors to expect Lion Dairy to make ¥129.9 billion ($1.76 billion) revenue in the 2019 financial year, after revising it down from ¥143.3 billion. In April 2019 Kirin and Lion assessed the fair value of the Dairy & Drinks business. In addition, Dairy & Drinks will benefit from access to leading-edge dairy research and development capability and further investment as part of the Mengniu business.” China Mengniu Dairy notes that Lion Dairy & Drinks has a ‘portfolio of iconic dairy brands with No 1 market position’ across the dairy … Quicklinks. Lion Dairy & Drinks Lion Dairy & Drinks Brand Updates. related to Mergers & acquisitions, Soft drinks, Water, Kirin, China Mengniu Dairy Company Limited is buying Lion-Dairy and Drinks Pty Ltd (LDD) from Japan’s Kirin Holdings Company Limited. 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. 737 Bourke Street Docklands, VIC 3008 . Saputo to Acquire the Specialty Cheese Business of Lion-Dairy & Drinks Pty Ltd in Australia. Lion Cyber incident update 26 June 2020. The sale of Lion Dairy & Drinks to Mengniu was approved by the Australian Competition and Consumer Commission earlier this year. "It is somewhat of a relief to know there is a next step." We employ more than 6,700 people across Australia and New Zealand predominantly and take great pride in our local manufacturing footprint, which spans 38 sites – including milk, specialty cheese, yoghurt, juice sites and dairy farms as well as large breweries, craft breweries, wineries, and venues. "The Lion Dairy & Drinks business has been for sale for more than a year now," Mr Kebbell said. Co-operative chairman and Gympie dairy farmer, Andrew Burnett said the iconic Dairy Farmers brand is now back in Australian ownership. "Our partners, Lion, have had international owners for more than a decade," he said. Kirin struck a deal in November to divest its Lion Dairy and Drinks subsidiary to China Mengniu Dairy. 10%* of … Kirin Holdings and Lion have today announced an agreement to sell the Dairy & Drinks business to Bega Cheese Limited (Bega) for A $560 million. Kirin Holdings Co. has revived a sale of its Australian beverage unit after scrapping a deal with China Mengniu Dairy Co. amid political strain, according to people familiar with the matter. It has 11 factories around Australia and its suppliers include 280 dairy farmers and 85 fruit growers. Lion has announced that it plans to sell its Lion Dairy & Drinks (LDD) business. The proposed sale was canceled on Tuesday. Mr Kebbell said DFMC did not share concerns expressed on social and tabloid media about Chinese ownership. Kirin is a global, multi-industry food and beverages company headquartered in Tokyo. The Australian company, Lion Dairy, and its owner, Japanese beverage giant Kirin, both said in separate statements that approval … Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. Update on Sale of Lion Dairy & Drinks and Agreement to Sell Specialty Cheese Business 26 April 2019:- Lion CEO Stuart Irvine today provided an update on the sale of Lion Dairy & Drinks (LDD), including confirmation that Kirin and Lion have reached an agreement to sell LDD’s specialty cheese business to Saputo Dairy Australia (Saputo), for AUD 280 million. Saputo, the Canada-based dairy major, has confirmed it … 26 April 2019:- Lion CEO Stuart Irvine today provided an update on the sale of Lion Dairy & Drinks (LDD), including confirmation that Kirin and Lion have reached an agreement to sell LDD’s specialty cheese business to Saputo Dairy Australia (Saputo), for AUD 280 million. Consumer Enquiries AU: 1800 677 852. Elise Gare Lion Dairy & Drinks Business Sale Update. Lion is an alcoholic beverage company that operates in Australia and New Zealand, and a subsidiary of Japanese beverage giant Kirin.It produces and markets a range of beer and cider in Australia, and wine in New Zealand and the United States through Distinguished Vineyards & Wine Partners. Lion Dairy's China sale tipped down drain Business . Asahi has abandoned a plan to buy the Australian-based Lion Dairy and Drinks division following its $16 billion takeover of Carlton & United Breweries (CUB). The sale to Saputo will include all of Dairy & Drinks’ specialty cheese brands, including King Island Dairy, Tasmanian Heritage, South Cape, Mersey Valley, Heidi Farm and Australian Gold, as well as cheese manufacturing assets at Burnie (The Heritage) and King Island (King Island Dairy and Cheese Store), and the two Lion-owned farms on King Island (Horizon Glen and Kyeema). After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo. Japanese drinks giant Kirin has finished churning through bids for its up-for-sale local dairy and drinks division. Japanese-owned beverage giant Kirin announced the sale of Lion Dairy and Drinks to Mengniu Dairy last November, pending approvals. Below is a further update on the cyber-attack and IT system outage that Lion is experiencing. Remember me Forgot password? Tweet. Lion’s alcohol businesses in Australia and New Zealand and its Global Markets unit, are not affected by the dairy and drinks sale process. The sale of Lion Dairy and Drinks is entering the home straight. Bega Cheese says Lion Dairy and Drink purchase sees it fulfil it’s ‘ambition of creating a truly great Australian food company’. In terms of our operations, we have managed to get all our breweries back up and running. April 26, 2019 03:34 ET … In April 2019 Kirin and Lion assessed the fair value of the Dairy & Drinks business. Our focus is on the production, marketing, sales and distribution of beer, wine, spirits, cider and ready-to-drink products, as well as a range of non-alcohol beverages. As a valued customer, I’m pleased to share with you that Kirin and Lion today announced that it has entered into a sale agreement to sell the Dairy & Drinks business to Bega Cheese Limited (Bega). Company profile page for Lion-Dairy & Drinks Pty Ltd including stock price, company news, press releases, executives, board members, and contact information By AFN Staff Writers. First Name: Surname: Phone Number: Email Address: Customer Number: Click here to enter your own claim reference number Claim Date: Claim Reason: Claim Detail ID SKU SKU Description Quantity UOM; Your claim has been successfully submitted. Update on the sale of Lion Dairy & Drinks. Lion has been advised by Deutsche Bank as financial adviser, with King & Wood Mallesons as legal adviser. and would have signalled the full divestment of Lion’s Dairy & Drinks business, following the finalised sale of its speciality cheese business to Saputo Dairy Australia for $280 million in October 2019. Tuesday, 7 August 2018: Lion today announced its trading update for the half year ended 30 June 2018 in conjunction with Kirin Holdings’ half year announcement. X. X. X. X. 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 Cooperative (DFMC). 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. China Mengniu Dairy's $600 million purchase of Kirin's Lion Dairy and Drinks abandoned amid trade tensions. In a statement, Treasurer Josh Frydenberg said he had been advised the two companies had “mutually agreed to not proceed with the sale process”. Kirin and Lion said they considered all options for LDD, from a continuation of investment and retaining the business to a sale of LDD. The sale agreement is subject to ACCC and Foreign Investment Review Board approvals and other standard closing conditions and is expected to complete within the second half of calendar year 2019. By Dean Best | 20 October 2020. Aa . “As we worked through the sale process over the last several months, significant bidder interest emerged in both the whole Dairy & Drinks business and also in the specialty cheese assets on a standalone basis. By Dean Best | 20 October 2020. 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 … The sale of Lion Dairy and Drinks is entering the home straight. Lion’s net sales revenue decreased 1.6% to $1,912.5 million, impacted by challenging trading conditions in the mature Australian and New Zealand beer markets and declines in chilled and ambient fruit juice. Lion Dairy & Drinks for sale by FMCG Business October 11, 2018 October 15, 2018. In a further update, Lion CEO Stuart Irvine said that the sale process for the broader Lion Dairy & Drinks (LDD) business was continuing. By 9News Staff. Email: [email protected], Robyn Riley Lion is New Zealand’s largest alcohol beverage company. By AFN Staff Writers. Natalie Toohey          + 61 (0)409 239 459, Elise Gare                  + 61 (0)437 306 437, Lion Pty Limited Older Posts. Japanese drinks company Asahi Group is believed to be in negotiations to buy the remaining assets in the Lion Drinks and Dairy portfolio that is up for sale by its owner, countryman Kirin. Lion Dairy and Drinks Claims Portal Click Here to Submit Sale or Return Claim Request Click Here to Submit Credit Claim Request For assistance please call LDD Claims on 1800 000 570 or email [email protected] Dairy and Drinks Sale or Return Claims. On Tuesday 25 August 2020, the Treasurer of Australia announced that the proposed sale of Lion Dairy and Drinks Pty Ltd (Lion Dairy) to China Mengniu Dairy Company Limited (China Mengniu) would not be within Australia’s “national interest”, effectively blocking the transaction. Today, it released a statement abandoning the deal, over claims approval by the Federal Government was not forthcoming. PO Box 23084 Docklands, VIC 8012 +61 3 9188 8000. The Australian Competition and Consumer Commission allowed the sale in February. Level 7, 68 York Street The Japanese group has reportedly made a decision on the future of the Lion dairy business that had been set for sale to China's Mengniu before the deal was scrapped. Lion Dairy and Drinks operates 11 Australian manufacturing facilites and has another two with joint-venture partners. Saputo is ideally positioned to drive the business forward, given its deep dairy capabilities, complementary portfolio and commitment to the cheese category domestically.”. “As we worked through the sale process over the last several months, significant bidder interest emerged in both the whole Dairy & Drinks business and also in the specialty cheese assets on a standalone basis. Foreign Investment Review Board approvals, and the time it spent getting to understand the business... Your orders online Sign in November 2019 was worth $ 600 million purchase of Kirin 's Lion Dairy Drinks! Acquire the Specialty Cheese business of Lion-Dairy & Drinks he said Lion has announced that plans. 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