ACCC approves Bega Cheese’s acquisition of Betta Milk and Meander Valley Dairy

TasFoods Limited has announced that the Australian Competition and Consumer Commission (ACCC) has given the green light to the sale of Betta Milk and Meander Valley Dairy to Bega Cheese Limited. This transaction, valued at A$11 million plus inventory, includes the acquisition of businesses and certain assets of both dairy brands, as well as a perpetual, royalty-free license to use the Pyengana Dairy brand for milk and cream products in Australia.

Strategic Expansion of Bega Cheese’s Dairy Portfolio

Bega Cheese, an iconic Australian company with a strong heritage in the dairy sector, is set to enhance its brand portfolio with the addition of Betta Milk, Pyengana Milk, and Meander Valley Dairy. These well-established Tasmanian brands are expected to fortify Bega Cheese’s presence in the local market, aligning with its strategy to build a diverse portfolio of branded products.

Final Steps and Expected Completion of the Transaction

The transaction, initially announced on 28 August 2023, is now subject to finalization of the remaining conditions precedent. TasFoods Limited anticipates these conditions to be completed shortly, with an expected transaction completion before the end of this calendar year. A further announcement will be made once all conditions are satisfied and the transaction is finalized.

Bega Group’s Vision for Tasmanian Dairy Brands

Bega Group’s CEO, Pete Findlay, expressed delight in adding these Tasmanian brands to their portfolio. Acknowledging the quality and regional significance of Betta Milk, Meander Valley Dairy, and Pyengana milk brands, Findlay highlighted Bega Group’s ambition to become a leading Australian food company. Bega Group’s long-standing presence in Tasmania since the early 1900s further cements its commitment to the local dairy industry.