Join our daily newsletter At The Bell to receive exclusive market insights
- Bega Group (BGA) is set to acquire Betta Milk and Meander Valley Dairy from TasFoods (TFL) in a deal worth $11 million, plus inventory
- This strategic move adds iconic Tasmanian brands to Bega’s portfolio, enhancing its local offerings
- The acquisition includes a perpetual, royalty-free license for the Pyengana Dairy brand, pending ACCC approval
- Bega Group continues its journey to becoming a leading Australian food company
- BGA shares are down 1.89 per cent, trading at $3.11 at 1:44 pm AEST
Bega Group (BGA) has entered into a business sale agreement to acquire the businesses and specific assets of Betta Milk and Meander Valley Dairy from TasFoods (TAS).
The acquisition is valued at $11 million, plus inventory.
A standout element of this deal is the inclusion of a perpetual, royalty-free license to use the esteemed Pyengana Dairy brand for milk and cream products across Australia.
The finalisation hinges on receiving approval from the Australian Competition and Consumer Commission (ACCC).
Bega Group’s roots in the Tasmanian dairy sector date back to the early 1900s, with a long-standing presence in Lenah Valley.
“We recognise the quality in the Betta Milk, Meander Valley Dairy, and Pyengana milk brands, and we are delighted to add these Tasmanian brands to our portfolio.” Bega Group CEO Pete Findlay said.
“Betta Milk is a fantastic regional brand that has been a household name in Tasmania for over 65 years, and acquiring these brands supports our ambitions to become a great Australian food company.”
BGA shares were down 1.89 per cent, trading at $3.11 at 1:44 pm AEST.
