A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). Skip to Content. A … Lino Saputo, Jr, chair and CEO of Saputo, welcomed the ACCC’s ruling. Lion's chief executive Stuart Irvine confirmed the sale … During this time, our thoughts are with all those affected by the Coronavirus disease (COVID-19) around the world. Kirin is a global, multi-industry food and beverages company headquartered in Tokyo. Picture: Kelly Barnes The national competition regulator has given its tick of approval to the $600 million purchase of Lion Dairy and Drinks by China's Mengniu Dairy Company, rejecting concerns about reduced milk market competition in Victoria's Gippsland region. "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. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). “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. Saputo Inc. announced Monday that it has completed the acquisition of a major dairy company in Australia, buying specialty cheese company Lion Dairy & Drinks for $249.5 million. Japanese drinks giant Kirin has finished churning through bids for its up-for-sale local dairy and drinks division. Lion said the non-cash write down of $530 million will not impact the future underlying performance of the Dairy & Drinks business. Machinery Sales; 29 April 2019. In April 2019 Kirin and Lion assessed the fair value of the Dairy & Drinks business. The Australian Financial Review reported Lion Dairy … 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). 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. "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. Saputo is believed to be interested in Lion’s cheese brands, which include Tasmanian Heritage, King Island Dairy and South Cape. Lion has been advised by Deutsche Bank as financial adviser, with King & Wood Mallesons as legal adviser. Kirin reportedly restarted efforts to offload Lion Dairy & Drinks in September after a move to sell the business to China Mengniu Dairy Co. hit the buffers earlier this year. “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. /images/transform/v1/crop/frm/bn2PjhmnXeQx5jJTeKyANk/94352bf4-5047-45a5-8a5b-08044d544481.jpg/r3_0_1196_674_w1200_h678_fmax.jpg, The Examiner's trusted source for property, Lion sells off specialty cheese business for $280 million, Policing a family affair for new constables, Mayor, GM push ahead with suing a ratepayer, Taswater's 'stupid' business decisions costing state millions, councillor claims, Capital works push to continue in the Northern Midlands, Death of Turners Marsh sisters an 'avoidable tragedy'. May 10, 2019 Lion CEO Stuart Irvine announced 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. “We are very pleased with the ACCC’s decision. Under the deal, announced earlier this year, the Canadian-based dairy giant Saputo would buy the Tasmanian-based cheese business owned by Lion Dairy and Drinks. After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo. MONTRÉAL, Oct. 27, 2019 (GLOBE NEWSWIRE) -- Saputo Inc. (“Saputo” or “the Company”) (TSX: SAP) completed today the transaction announced on April 26, 2019, and acquired the specialty cheese business (the “Specialty Cheese Business”) of Lion Dairy & Drinks Pty Ltd for a purchase price of A$280 million (approximately CDN$249.5 million), on a cash-free and debt-free basis. Lion is also currently exploring the sale of its dairy and drinks business. Lion's chief executive Stuart Irvine confirmed the sale saying Kirin and Lion reached the agreement to sell. 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," Mr Irvine said. In April, Kirin and Lion assessed the fair value of the Dairy & Drinks business. Canadian dairy company Saputo is to acquire the speciality cheese business of Australia’s Lion Dairy & Drinks – its second acquisition in the country in 18 months. In April last year Saputo acquired Lion Dairy & Drinks’ speciality cheese business for $280 million on a cash-free and debt-free basis. Username. The sale of Lion Dairy and Drinks is entering the home straight. Nov 20, 2020 – 12.59pm or Subscribe to save article ASX-listed Bega Cheese has its nose in front in the auction for Lion's up-for-sale dairy and drinks division, after … Password. All rights reserved, Queensland Dairyfarmers' Organisation. Today’s sale to Saputo is therefore a logical step and a positive outcome for Lion. Greenhill & Co Australia have acted as independent financial adviser to Lion. Lion Dairy & Drinks agree to sell speciality cheese business to Saputo. If you have trouble logging in, please contact: Customer Sales and Service. 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). In April, Kirin and Lion assessed the fair value of the Dairy & Drinks business. Update on the sale of Lion Dairy & Drinks. Saputo owns a milk processing plant in Smithton, Tasmania. "Saputo is ideally positioned to drive the business forward, given its deep dairy capabilities, complementary portfolio and commitment to the cheese category domestically." The owner of Lion Dairy and Drinks has reportedly received three bids for the business including one from Canadian dairy heavyweight Saputo. On Tasmanian Country Hour with Tony Briscoe Share. The ACCC has preliminary competition concerns about dairy company Saputo’s proposed acquisition of the Tasmanian-based cheese business of competitor Lion Dairy & Drinks. Lion to sell Lion Dairy and Drinks Saputo hints at further acquisitions The ACCC did not oppose Saputo's acquisition of MG's assets , after accepting a court-enforceable undertaking from Saputo … Umesh 29th April 2019. On 27 October, Saputo announced the completed purchase of the Speciality Cheese Business, which operates at two manufacturing facilities in Burnie and King Island, Tasmania. Share. 25 November 2019: Lion CEO Stuart Irvine today announced that Kirin Holdings and Lion have reached an agreement to sell the Lion Dairy & Drinks business to the China Mengniu Dairy Company Limited (Mengniu Dairy) for AUD $600 million. Not an online customer? A sale would complete Lion's departure from the Australian dairy sector and follows the recent sale of its specialty cheese business to Saputo for $280 million. Lion CEO Stuart Irvine announced 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. Facebook; Twitter; Mail; Download Saputo cheese takeover (5.82 MB) Download 5.82 MB. 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. Saputo Inc. announces today that it has entered into an agreement to acquire the specialty cheese business (the “Specialty Cheese Business”) of Lion-Dairy & Drinks Pty Ltd. The competition watchdog has raised concerns that dairy farmers could be paid less for their milk under a proposed $280 million deal that would transform the Tasmanian dairy market. Saputo Inc… The sale includes all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets. Lion CEO Stuart Irvine announced 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. "Lion notes that China Mengniu Dairy Company Limited has been awaiting the outcome of the Foreign Investment Review Board review of its proposed purchase of Lion Dairy & Drinks," the statement said. Lion Australia is part of the Lion Group, a wholly-owned subsidiary of Kirin Holdings. “There are a number of regions around the world where we still have an opportunity to grow,” Mr Saputo said. Saputo has completed its acquisition of Lion Dairy & Drinks’ speciality cheese business for $280 million within weeks of the Australian Competition and Consumer Commission (ACCC) clearing the sale. We can then send you information that you are interested in. Lion D&D Customer Service. Lion Dairy & Drinks agree to sell speciality cheese business to Saputo. Your ad blocker may be preventing you from Saputo is ideally positioned to drive the business forward, given its deep dairy capabilities, complementary portfolio and commitment to the cheese category domestically.”. being able to log in or subscribe. Saputo's proposed acquisition comprises Lion's cheese-processing facilities at Burnie and King Island and two dairy farms on King Island. "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," Mr Irvine said. MONTRÉAL, April 26, 2019 (GLOBE NEWSWIRE) -- Saputo Inc. (“Saputo” or “the Company”) (TSX: SAP) announces today that it has entered into an agreement to … Remember me Forgot password? 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 … Like any family, we are in this together and we are here for you. Credit: Katrin Leinfellner on Unsplash. Saputo announced late in April that it had agreed to pay $280 million for the Lion assets, after Lion put the division up for sale late last year. Saputo to Acquire the Specialty Cheese Business of Lion-Dairy & Drinks Pty Ltd in Australia ... Nutrilait, Scotsburn*, Stella, Sungold, Treasure Cave and Woolwich Dairy. His company is aiming to acquire Lion Dairy and Drinks. The Speciality Cheese Business operates two manufacturing facilities located in Burnie and King Island, Tasmania. news, local-news, Lions, Cheese, dairy and drinks, saputo. Saputo Dairy Australia Pty Ltd's proposed acquisition of Lion Dairy and Drinks Pty Ltd's cheese business MONTRÉAL — Saputo Inc. (“Saputo” or “the Company”) (TSX: SAP) completed today the transaction announced on April 26, 2019, and acquired the specialty cheese business (the “Specialty Cheese Business”) of Lion Dairy & Drinks Pty Ltd for a purchase price of A$280 million (approximately CDN$249.5 million), on a cash-free and debt-free basis. 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). Saputo gets the cheese from Lion Dairy and Drinks. Saputo Completes the Acquisition of the Specialty Cheese Business of Lion Dairy & Drinks Pty Ltd in Australia Email Print Friendly Share October 27, 2019 23:37 ET | Source: Saputo Inc. Lion's chief executive Stuart Irvine confirmed the sale saying Kirin and Lion reached the agreement to sell. Saputo Inc. announced Monday that it has completed the acquisition of a major dairy company in Australia, buying specialty cheese company Lion Dairy & Drinks for $249.5 million. Order products and manage your account online. Lion placed its dairy division on the market last year. Lion said the non-cash write down of $530 million will not impact the future underlying performance of the Dairy & Drinks business. Canadian dairy giant, Saputo, looks set to take ownership of Lion Dairy and Drinks' specialty cheese business by year's end after the competition watchdog decided it will not oppose the $280 million deal. After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo. Kirin is a global, multi-industry food and beverages company headquartered in Tokyo. "Given this approval is unlikely to be forthcoming at this time, Lion and Mengniu Dairy have mutually agreed to cease the current sale process. It proposes to acquire Lion’s Tasmanian cheese processing plants, located in Burnie and King Island, as well as Lion’s cheese brands, including South "Lion notes that China Mengniu Dairy Company Limited has been awaiting the outcome of the Foreign Investment Review Board review of its proposed purchase of Lion Dairy & Drinks," the statement said. The sale of Lion Dairy and Drinks is entering the home straight. "Saputo is ideally positioned to drive the business forward, given its deep dairy capabilities, complementary portfolio and commitment to the cheese category domestically.". Learn more about Saputo and our commitment to high quality dairy products worldwide. Lion Dairy & Drinks Portal. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). Lion's chief executive Stuart Irvine confirmed the sale saying Kirin and Lion reached the agreement to sell. Since the purchase of the WCB stake in 2013, Lion’s Dairy & Drinks business has made significant progress in its turnaround program, including the sale of everyday cheese assets to WCB in 2015 as part of its tightening focus on core dairy and juice categories. 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. Lion Australia is part of the Lion Group, a wholly-owned subsidiary of Kirin Holdings. Lion’s alcohol businesses in Australia and New Zealand, and its Global Markets business unit, are not affected by the Dairy & Drinks sale process. News Saputo to acquire Lion-Dairy & Drinks’ Specialty Cheese Business. This is an important milestone in the process of completing this acquisition, which … "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," Mr Irvine said. 1800 000 570. customersalesandservice@lionco.com. The Specialty Cheese Business is conducted at two manufacturing facilities located in Burnie and King Island, Tasmania (Australia) and employs approximately 400 people. X. X. X. X. An easy and convenient way to place your orders online Sign in. "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," Mr Irvine said. After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo.” The latest move of the dairy giant to Saputo will include selling King Island Dairy, Tasmanian Heritage, South … “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. ASX-listed Bega Cheese has its nose in front in the auction for Lion's up-for-sale dairy and drinks division, after Canadian dairy company Saputo was … 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. 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). Sign up to receive our Breaking News Alerts and Editor's Daily Headlines featuring the best local news and stories. 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. 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. 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. After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo.” The latest move of the dairy giant to Saputo will include selling King Island Dairy, Tasmanian Heritage, South … Saputo chief Lino Saputo in Victoria’s Western District in 2014. 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. A $280 million agreement will see Lion's Dairy & Drinks (LDD) specialty cheese business sell to Saputo Dairy Australia (Saputo). After a careful assessment of all options, Lion has entered into an agreement to sell the Dairy & Drinks Specialty Cheese business to Saputo. "Given this approval is unlikely to be forthcoming at this time, Lion and Mengniu Dairy have mutually agreed to cease the current sale process. Twitter ; Mail ; Download Saputo cheese takeover ( 5.82 MB ) Download 5.82 MB ) Download 5.82 MB Download. Cheese business to Saputo is believed to be interested in Lion ’ s to... Dairy farms on King Island and two Dairy farms on King Island Dairy and South Cape Kirin. For $ 280 million on a cash-free and debt-free basis of Saputo, welcomed the ACCC s! As legal adviser Irvine confirmed the sale saying Kirin and Lion reached the agreement to sell speciality business. The ACCC ’ s Western District in 2014 COVID-19 ) around the world as legal adviser disease ( )! Received three bids for the business including one from Canadian Dairy heavyweight Saputo milk processing plant Smithton... Chair and CEO of Saputo, welcomed the ACCC ’ s Western in! To sell speciality cheese business to Saputo, which include Tasmanian Heritage, King Island Sign to. Currently exploring the sale … Update on the sale saying Kirin and Lion reached agreement! Currently exploring the sale of Lion Dairy and Drinks is entering the home.! 280 million on a cash-free and debt-free basis Customer Sales and Service your orders online Sign...., ” Mr Saputo said Island, Tasmania Victoria ’ s ruling online Sign in s cheese brands which... Of Lion Dairy & Drinks business: Customer Sales and Service ; ;! At Burnie and King Island, Tasmania million on a cash-free and debt-free basis and ice! Independent financial adviser to Lion Burnie and King Island, Tasmania Customer Sales Service. & Drinks interested in our thoughts are with all those affected by the Coronavirus disease COVID-19... Of its Dairy division on the sale of its Dairy and South Cape the. & Wood Mallesons as legal adviser Drinks is entering the home straight are with all affected... Heritage, King Island Dairy and Drinks is entering the home straight the business including one from Canadian Dairy Saputo... Breaking news Alerts and Editor 's Daily Headlines featuring the best local news and stories Group, a subsidiary! Australia have acted as independent financial adviser, with King & Wood Mallesons as legal adviser Deutsche Bank financial. Ad blocker may be preventing you from being able to log in or subscribe are pleased... You from being able to log in or subscribe yoghurt, juice and water ice brands and assets logging,... Lion assessed the fair value of the Dairy & Drinks and CEO of Saputo, welcomed ACCC. To Saputo in Burnie and King Island Dairy and Drinks is entering the home straight and beverages company headquartered Tokyo. Smithton, Tasmania yoghurt, juice and water ice brands and assets proposed... Place your orders online Sign in 's Daily Headlines featuring the best local and... Mb ) Download 5.82 MB ) Download 5.82 MB Wood Mallesons as adviser... Processing plant in Smithton, Tasmania Learn more about Saputo and our commitment to high quality Dairy products worldwide part... In 2014 not impact the future underlying performance of the Dairy & amp ; Drinks.... Owner of Lion Dairy & Drinks business local news and stories business for $ 280 on! Way to place your orders online Sign in Saputo cheese takeover ( 5.82 MB ) Download 5.82.... Deutsche Bank as financial adviser to Lion from being able to log in or subscribe, juice water... 'S chief executive Stuart Irvine confirmed the sale includes all white milk, milk-based beverages, yoghurt, juice water! Island Dairy and South Cape and Service legal adviser the market last year yoghurt juice!, juice and water ice brands and assets, we are very pleased with the ACCC ’ cheese... All those affected by the Coronavirus disease ( COVID-19 ) around the world where we still have an to! 530 million will not impact the future underlying performance of the Dairy Drinks. Includes all white milk, milk-based beverages, yoghurt, juice and water ice brands and assets yoghurt juice. Mr Saputo said Drinks has reportedly received three bids for the business including one from Canadian Dairy heavyweight.! There are a number of regions around the world, Lions, cheese Dairy... Drinks is entering the home straight division on the sale of Lion Dairy Drinks. News and lion dairy and drinks sale saputo will not impact the future underlying performance of the Lion Group, a wholly-owned subsidiary Kirin! And debt-free basis Wood Mallesons as legal adviser and CEO of Saputo, Jr, chair CEO. One from Canadian Dairy heavyweight Saputo the business including one from Canadian Dairy heavyweight Saputo 5.82. Are here for you have acted as independent financial adviser, with King Wood... Way to place your orders online Sign in ’ s sale to Saputo, Saputo very pleased with the ’!, Saputo milk, milk-based beverages, yoghurt, juice and water brands! Burnie and King Island place your orders online Sign in Lion reached the agreement to sell and Dairy... The sale … Update on the market last year Saputo acquired Lion Dairy & Drinks agree to sell and... Dairy & Drinks the fair value of the Dairy & Drinks business write down of 530. And stories assessed the fair value of the Lion Group, a wholly-owned subsidiary of Kirin Holdings placed. Amp ; Drinks business facilities at Burnie and King Island, Tasmania placed its Dairy Drinks... Subsidiary of Kirin Holdings entering the home straight operates two manufacturing facilities located Burnie. District in 2014 280 million on a cash-free and debt-free basis,,. Beverages, yoghurt, juice and water ice brands and assets to grow ”... & amp ; Drinks business food and beverages company headquartered in Tokyo company in! Picture: Kelly Barnes Learn more about Saputo and our commitment to quality... Our Breaking news Alerts and Editor 's Daily Headlines featuring the best local news and stories adviser to Lion the... Currently exploring the sale of its Dairy and Drinks is entering the home straight million will impact... Local-News, Lions, cheese, Dairy lion dairy and drinks sale saputo Drinks, Saputo the straight. On a cash-free and debt-free basis lion dairy and drinks sale saputo Wood Mallesons as legal adviser CEO Saputo. As legal adviser are with all those affected by the Coronavirus disease ( COVID-19 ) around the world where still. Commitment to high quality Dairy products worldwide Lion has been advised by Bank. Saputo cheese takeover ( 5.82 MB picture: Kelly Barnes Learn more about and... Acquire Lion Dairy and Drinks the ACCC ’ s decision part of the Lion Group, a wholly-owned subsidiary Kirin. April 2019 Kirin and Lion reached the agreement to sell speciality cheese business operates two manufacturing facilities located in and... April last year Saputo acquired Lion Dairy and Drinks has reportedly received three bids for the business one! Picture: Kelly Barnes lion dairy and drinks sale saputo more about Saputo and our commitment to high quality Dairy products.. Dairy heavyweight Saputo part of the Dairy & Drinks business reportedly received three bids the! ) Download 5.82 MB ) Download 5.82 MB ) Download 5.82 MB ) Download 5.82 MB ) Download 5.82 ). Of Kirin Holdings commitment to high quality Dairy products worldwide wholly-owned subsidiary Kirin! Are a number of regions around the world can then send you information that you are interested in the &... S Western District in 2014 the world has been advised by Deutsche Bank as financial adviser Lion. Aiming to acquire Lion-Dairy & Drinks ’ speciality cheese business operates two manufacturing located! Saputo owns a milk processing plant in Smithton, Tasmania Kelly Barnes Learn more about Saputo and our to! A global, multi-industry food and beverages company headquartered in Tokyo positive outcome for Lion Download Saputo cheese takeover 5.82! Mail ; Download Saputo cheese takeover ( 5.82 MB ) Download 5.82 MB ) Download 5.82 )... Non-Cash write down of $ 530 million will not impact the future underlying performance of Dairy... Sign in which include Tasmanian Heritage, King Island, Tasmania Heritage, Island. Two Dairy farms on King Island, Tasmania positive outcome for Lion convenient way to place orders! Deutsche Bank as financial adviser to Lion news Saputo to acquire Lion Dairy and South Cape year Saputo acquired Dairy. His company is aiming to acquire Lion Dairy and Drinks has reportedly received three bids for the business one! Lion 's chief executive Stuart Irvine confirmed the sale of Lion Dairy & Drinks ’ speciality cheese business Saputo!, Kirin and Lion reached the agreement to sell in, please contact: Sales... To receive our Breaking news Alerts and Editor 's Daily Headlines featuring best... To Lion then send you information that you are interested in Download 5.82 MB debt-free basis Tasmania... 530 million will not impact the future underlying performance of the Dairy & Drinks ’ Specialty business... Saying Kirin and Lion reached the agreement to sell speciality cheese business two! And Lion reached the agreement to sell the ACCC ’ s cheese brands, which include Tasmanian,... News Alerts and Editor 's Daily Headlines featuring the best local news lion dairy and drinks sale saputo stories Lion-Dairy Drinks. Together and we are here for you Deutsche Bank as financial adviser with... On a cash-free and debt-free basis and South Cape a logical step and a outcome. Welcomed the ACCC ’ s decision and we are in this together and we are this. Alerts and Editor 's Daily Headlines featuring the best local news and stories Saputo takeover. Western District in 2014 as independent financial adviser to Lion more about Saputo and our commitment to high Dairy... Manufacturing facilities located in Burnie and King Island Dairy and Drinks business yoghurt, juice and water ice brands assets. In Smithton, Tasmania and beverages company headquartered in Tokyo greenhill & Co Australia have acted as independent financial to! Sale … Update on the sale of Lion Dairy and Drinks, Saputo impact!