Bega Cheese has been tipped as the frontrunner to takeover Lion Drinks & Dairy. Bega Cheese (ASX: BGA) will acquire Kirin-owned Lion Dairy & Drinks for $534 million, effectively bringing the former National Foods brands back into Australian hands. Bega, Tanarra Capital and Saputo are all vying for control over the drinks brand with final bids due in the coming days. Bega Cheese Limited (“Bega Cheese”, “BGA”) is pleased to announce that it has entered into a binding Share Sale and Purchase Agreement to acquire all of the shares in Lion Dairy & Drinks (“LD&D”, “Company”) for a net acquisition price of $534 million 1 (“Acquisition”). Bega Cheese has purchased Lion Dairy and Drinks for $534 million dollars. Bega Cheese is reportedly set to acquire Kirin Holding's Australian dairy and beverages business, Lion Dairy & Drinks, with an announcement of the deal expected imminently. Bega Cheese has purchased Lion Dairy and Drinks for $534 million dollars. Bega’s $534 million deal to buy the Lion Dairy and Drinks business includes $25.9 million in mainly IT separation costs, which Bega says Lion will pay, but is a moot point. BEGA Cheese has opened up its share offer to raise $117 million from existing retail shareholders to help pay for its acquisition of Lion Dairy and Drinks. 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. Bega Cheese executive chairman Barry Irvin says adding a range of popular household dairy names such as Yoplait, Big M and Pura Milk to its books will finally give the business the heft it was seeking in the global food sector. Bega Cheese to buy Lion Dairy for $534m | … Bega has sent a request for proposal to accounting firms in recent weeks to help it run financial due diligence on Lion Dairy & Drinks. Japanese media reported the Lion Dairy and Drinks acquisition was done days ago, saying the price was more than 40 billion yen ($530 million), and speculation mounted when Bega … Bega Cheese this week acquired Lion Dairy and Drinks for $534 million just three years after doling out $460 million to acquire Vegemite and peanut butter from Mondelez International. “Today’s announcement is an important step forward. Japanese brewer Kirin Holdings has reportedly entered into a deal to sell its Lion Dairy & Drinks subsidiary in Australia to local company Bega Cheese. TOKYO — Japan’s Kirin Holdings Co has decided to sell its Australian dairy firm Lion-Dairy and Drinks Pty Ltd to Bega Cheese Ltd for more than 40 billion yen ($385 million), the Nikkei business daily reported on Saturday. Bega Cheese has raised approximately $284 million at a … Bega Cheese – the owners of the Peanut Company of Australia – has agreed to buy Lion’s Dairy & Drinks business for $534 million. Credit: AAP. This will allow the company to push ahead with its plan to purchase Lion Dairy & Drinks for $534 million. November 26, 2020. Bega Cheese has acquired Lion Dairy and Drinks for $534 million, returning iconic brands like Dairy Farmers, Farmers Union, Pura Milk, Big M and Yoplait to Australian ownership. Yesterday, Bega revealed it has entered a binding agreement to purchase Lion Dairy & Drink in a $534 million deal from Japanese company Kirin.. Last year, Lion was intended to be sold to Chinese company Mengniu Dairy, however, the deal was terminated by the … related to Mergers & acquisitions, Soft drinks, Water, Kirin, Bega Cheese can now look forward to gaining clout in the global food sector after a A$560 million deal to buy Lion Dairy and Drinks business.With the addition of more well-known dairy products including yoghurt, cheese and flavoured milk to the portfolio, the ASX-listed diversified food company would now be better placed in dealing with the growing competition. Bega Cheese has announced Thursday morning that it has acquired the Lion Dairy and Drinks business for a headline number of $560 million. Bega Cheese executive chairman Barry Irvin confirmed the deal on Thursday, with the sale expected to be completed by January 2021. Bega To Buy Lion Dairy. With Bega announcing the $560 million deal to buy Lion’s dairy and drinks business … Bega buys Lion’s Australian dairy business in $560m deal Read More » Completion of the Acquisition is anticipated to occur at the end of January 2021 2. Bega on Thursday told the share market of its purchase, which includes milk, cream, juice and yoghurt products under brands such as Dairy Farmers, Pura and Yoplait. 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. 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