Addisons was delighted to act for Bega Cheese in its acquisition of Lion Dairy & Drinks and associated capital raising and funding.
Commenting on the Acquisition, Bega Cheese’s Executive Chairman, Barry Irvin, said
“We are delighted to announce this acquisition which we believe will create significant value for shareholders. The acquisition delivers important industry consolidation and value creation with synergies across the entire supply chain. The expanded product range, manufacturing and distribution infrastructure and brand portfolio realises our ambition of creating a truly great Australian food company.”Barry Irvin, Executive Chairman, Bega Cheese
Lion Dairy & Drinks core business is the manufacture, marketing, sales and distribution of:
- Milk Based Beverages (Dare, Farmers Union, Big M, Masters, Dairy Farmers);
- Yoghurt (Yoplait, Farmers Union, Dairy Farmers);
- Chilled Juices (Juice Brothers, Daily Juice);
- Cream and Custard (Pura, Dairy Farmers); and
- White Milk (Pura, Dairy Farmers, Masters).
Significantly, Lion Dairy & Drinks also has Australia’s largest national cold chain distribution network supplying food service and convenience stores. The Company has a national manufacturing footprint comprising 13 sites.
Managing Partner, David Ferguson said
“We greatly value our long-term relationship with Bega Cheese and this acquisition will see them achieve further significant growth. The transaction, including an intense due diligence review and capital raising, involved a large team within Addisons and it was inspiring to see how well our people worked together to achieve the result for our client.”David Ferguson, Managing Partner, Addisons
The Addisons transaction team was led by Partners, David Ferguson, Laura Hartley, Li-Jean-Chew and Special Counsel Geri du Plessis. With support from the Corporate Advisory, Competition & Anti-Trust, Banking & Finance, Intellectual Property, Real Estate and Environment & Planning teams.
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