News Snapshot:
Bega Cheese chairman Barry Irvin has warned that infant formula markets in China aren’t likely to recover to pre-COVID-19 levels because of structural changes, but on a brighter note he says the company gained a bargain in last year’s acquisition of the Lion portfolio of milk and flavoured milk brands. Bega, which owns the Vegemite brand along with a large dairy business, acquired brewing giant Lion’s dairy and drinks business for $560 million in late 2020 which gave it ownership of brands including Dairy Farmers, Yoplait, Big M, Masters and Farmers Union iced coffee. Mr Irvin told the group’s annual...
