Australia’s Bega Cheese to seek regulator nod for potential Fonterra Oceania acquisition (Reuters) -Dairy firm Bega Cheese said on Monday it plans to seek informal merger clearance from Australia’s competition watchdog of a potential acquisition of its peer Fonterra’s Oceania business. In November, New Zealand-based Fonterra announced plans to sell or list the units to sharpen its focus on core milk processing operations, with the divestment potentially valued at around NZ$4 billion ($2.41 billion). "Bega Group hopes to work constructively with Fonterra Group on the sale of its Oceania businesses of which Bega Group is the natural acquirer and in which it remains very interested", Bega Cheese said in a statement. Fonterra did not immediately respond to a Reuters request for comment. In early May, the Australian Competition and Consumer Commission (ACCC) began an informal review of Lactalis’ proposed bid for Fonterra’s assets, even though the French dairy giant said it had not signed any deal with the New Zealand-based firm. Reuters reported in May that Lactalis, Japan’s Meiji and Canada’s Saputo were expected to bid for Fonterra’s global consumer businesses, including the operations and marketing of brands such as Mainland and Anchor butter, Kapiti ice cream and cheese and Anlene powdered milk supplement. ($1 = 1.6595 New Zealand dollars)

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Shattered workers fear for town's future amid cheese factory closure Bega Cheese has announced it will close its Strathmerton factory, causing about 300 job losses in the small northern Victorian town.

Shattered workers fear for town's future amid cheese factory closure #Begagroup #Begacheese #manufacturing

Bega Cheese to close Victorian processing site to move jobs to NSW The cheese processing company will phase out operations at its Strathmerton site, which employs about 300 people.

Bega Cheese to close Victorian processing site to move jobs to NSW #BegaGroup #BegaCheese #manufacturing

Court ruling favours Australia’s Bega Cheese in dairy giant Fonterra’s trademark dispute (Reuters) - Australia’s Bega Cheese said on Monday that the Supreme Court of New South Wales has dismissed a case filed by Fonterra over trademark licensing agreements and the New Zealand dairy firm’s divestment plan. Last November, Fonterra’s Australian units initiated proceedings against Bega Cheese, seeking a ruling that Fonterra’s divestment proposal would not impact the existing trademark license agreements with the Australian cheese producer, with room for changing certain control clauses within them. Bega Cheese and Fonterra are linked through trademark license agreements, allowing Fonterra to use Bega’s trademarks on specific dairy products like cheese and butter. In February, Fonterra said it will engage with potential buyers for its global consumer business and integrated businesses, which could include a sale and initial public offering. The ruling may potentially delay Fonterra’s proposed divestiture, including the sale of its Oceania unit, as it could complicate the potential changes to the licence deal between the two firms."We hope to work constructively with Fonterra Group on the sale of its Oceania businesses of which Bega Group is a natural acquirer and remains very interested in," Barry Irvin, executive chairman of Bega Group, said. Shares of Bega Cheese gained as much as 1.9%, the highest in a month. BGA: A Bull or Bear Market Play? Don't miss out on the next big opportunity! Stay ahead of the curve with ProPicks AI – 6 model portfolios fueled by AI stock picks with a stellar performance this year... In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech Stocks, and Mid Cap stocks, you can explore various wealth-building strategies. So if BGA is on your watchlist, it could be very wise to know whether or not it made the ProPicks AI lists.

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Justice O'Callaghan..'found #BegaCheese acquired all rights to use the yellow-labelled and lidded peanut butter jar when it bought the assets'

He said 'the Australian company was therefore "entitled exclusively" to use the packaging'

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