News
Saputo acquires Australian cheese maker
29 Apr 2019Canadian dairy company Saputo is to acquire the specialty cheese business of Australia’s Lion-Dairy & Drinks
The business is conducted at two manufacturing facilities located in Burnie and King Island, Tasmania and employs approximately 400 people.
The purchase price of A$280.0 million (approximately €176 million), on a cash-free and debt-free basis, will be paid in cash at closing from cash on hand and available credit facilities.
The business produces, markets and distributes a variety of specialty cheeses under a wide portfolio of Australian brands, including South Cape, Tasmanian Heritage, Mersey Valley and King Island Dairy. For the twelve-month period ended on December 31, 2018, the business generated revenues of approximately A$192 million (€121 million).The specialty cheese business will, the company says, enable Saputo’s Dairy Division (Australia) to further diversify its product offering, adding to and complementing its current activities.The transaction is subject to foreign investment approval and clearance by the Australian Competition and Consumer Commission, and is expected to close in the second half of calendar year 2019.Companies mentioned
Related categories
Related news
Empowering innovation in fortification and colouration
13 Nov 2025
Divi’s Nutraceuticals offers a large portfolio of innovative, high-quality ingredients for foods, beverages, and supplements, with bespoke solutions and expert support for product success.
Read more
Danone highlights digestive health as potential ‘tipping point’ for food industry
13 Nov 2025
Danone is betting on a food industry “tipping point” that will bloat the market for healthy products, particularly those related to gut health.
Read more
Standing Ovation and Bel scale up casein production from dairy co-products
11 Nov 2025
Foodtech company Standing Ovation has partnered with cheese specialist Bel Group to manufacture dairy serums for industrial-scale casein production via precision fermentation.
Read more
New UPF standard hoped to offer consumers ‘coherence and clarity’
10 Nov 2025
Ingredients companies are being urged to enter “a new era of partnership and innovation” following the launch of the industry’s first non-UPF verification scheme.
Read more
Whistleblowers accuse UK meat industry of promoting cheap, unsustainable supply
7 Nov 2025
An anonymous group of industry insiders has accused the UK’s biggest food companies of systematically driving down meat quality and welfare standards.
Read more
Cottage cheese makes a comeback as consumers call for cleaner labels
6 Nov 2025
From ice cream to dips and ready meals, cottage cheese is experiencing a renaissance as a high-protein, clean ingredient for health-conscious consumers.
Read more
Bord Bia presents Irish dairy ingredient suppliers at Fi Europe
6 Nov 2025
Dairygold Co-operative Society, The Carbery Group, and Ornua Co-operative: Meet with sustainable producers of Irish dairy ingredients at Food ingredients Europe 2025, Hall 7.2 Stand M18.
Read more
Faravelli at Fi Europe: Showcasing FARA® functional solutions for food and nutra
28 Oct 2025
At Fi Europe 2025 in Paris (stand 72M39), Faravelli showcases FARA® Customized Functional Solutions and a wide ingredient portfolio for food and nutra – delivering quality, innovation, and expertise.
Read more
Agrigum Redefined FIBER
27 Oct 2025
Agrigum has transformed gum acacia into a natural, science-backed fibre that supports gut health, sustainability, and innovation across global food and nutrition applications.
Read more
Expanding boundaries in food & beverage innovation
23 Oct 2025
IMCD and FrieslandCampina Professional expand partnership to deliver Kievit® across EMEA, enabling brands to enhance quality and accelerate time-to-market for tomorrow’s food & beverage creations.
Read more