Bega Cheese Limited has announced the completion of its acquisition of Beta Milk and Meander Valley Dairy from TasFoods Limited. The deal, valued at AUD $11.0 million plus inventory, includes a perpetual, royalty-free licence to use the Pyengana Dairy brand for milk and cream products in Australia.

Bega Group CEO, Pete Findlay, expressed his enthusiasm for the acquisition, stating, “Bega Group is a proud Australian business and has a history of maintaining ownership of local brands. We are proud to welcome these brands to the Bega Group family. Betta Milk has been a household name in Tasmania for over 65 years, and under Aussie ownership will continue to be a much-loved brand within Tassie homes for many years to come.”

The acquisition is seen as a strategic move by Bega Group, aligning with its ongoing strategy to build its portfolio of branded products and improve its offering of local brands for Tasmanians. Bega Group’s Tasmanian dairy business has been operating in Lenah Valley since the early 1900s, further cementing its commitment to the local market.

To ensure a smooth transition for all stakeholders, Bega Group and TasFoods have entered into a transitional services agreement. During the acquisition process, Bega Group was advised by Kidder Williams Limited and Addisons Lawyers.