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Baby formula

August

The a2 Milk Company CEO David Bortolussi has warned that the China market remains challenging.

Booming Chinese demand not enough to stave off a2 Milk share slump

The company has warned revenues will grow far below the pace expected by investors this year after challenges finding product for the lucrative export market.

  • Updated
  • Carrie LaFrenz
David Bortolussi is the chief executive of a2 Milk, and has been pushing the company to take more control of its supply chain.

A2 Milk strikes peace deal with Synlait, sending shares sharply higher

The agreement will allow the company to manufacture its infant formula for the first time, with investors hoping for wider margins and better returns.

  • Carrie LaFrenz

May

Care A2 Plus was one of a small number of overseas infant formula producers allowed to import into the United States.

Care A2 Plus lender applies to wind up baby formula minnow

Care A2 Plus faces the prospect of being wound up due to a long-running dispute with a lender who alleged the infant formula manufacturer defaulted on a $2.2 million loan.

  • Max Mason and Carrie LaFrenz

April

The a2 Milk Company, led by CEO David Bortolussi, has not said if it will participate in a pending equity raising by its manufacturing partner Synlait Milk.

Synlait Milk races to raise capital and sell assets to repay debt

Around $120 million was due on Thursday, but the New Zealand-based group has won three more months to find the money for its lenders.

  • Carrie LaFrenz

November 2023

New CEO of Bubs Australia Reg Weine and Bubs Chairwoman, Katrina Rathie are making a major push into the US market.

Bubs asks shareholders for more capital to fund US push

The infant formula player is looking for $28 million at 12.5¢ a share

  • Carrie LaFrenz
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A2 Milk chief executive David Bortolussi expects the China formula market to remain more challenging this year.

A2 Milk boss says China formula market in steep decline

David Bortolussi says the fresh milk and formula company expects low, single-digit revenue growth in 2024 and flat profit margins.

  • Updated
  • Carrie LaFrenz

September 2023

Care A2 Plus was one of a small number of overseas infant formula producers allowed to import into the United States.

Care A2’s infant nutrition expert says she never worked for the company

The ASX baby formula hopeful is involved in escalating legal action against its US distributor, who is alleging it lost $200 million after its deal failed.

  • Max Mason and Carrie LaFrenz
Elke Pascoe, the founder and CEO of LittleOak, a goat’s milk infant formula company.

‘Protect your dream’, says LittleOak infant formula founder

A goat’s milk infant formula business sprang from a mum’s frustration, but optimism and enthusiasm is now the driving force.

  • Simon Evans
Care A2 Plus was one of a small number of overseas infant formula producers allowed to import into the United States.

Care A2 Plus fights Federal Court green light for US lawsuit

The infant formula producer is attempting to throw out a decision that allowed its US partner to sue its founder, chief executive and chairman in Miami.

  • Max Mason and Carrie LaFrenz
A2 milk CEO David Bortolussi.

A2 Milk and Synlait infant formula feud worsens

a2 Milk wants to take more control of its supply chain, but its 20 per cent-owned infant formula supplier Synlait is annoyed at a move to up-end exclusivity.

  • Simon Evans
Reg Weine is Bubs new CEO, with chairwoman Katrina Rathie.

Bubs boardroom battle responsible for cost surge, company says

The infant formula group’s board led by former King & Wood Mallesons partner Katrina Rathie, survived a push by the company’s founders to oust them.

  • Carrie LaFrenz
Care A2 Plus was one of a small number of overseas infant formula producers allowed to import into the United States.

Care A2 misled US regulators to pump up ASX float, distributor alleges

In an increasingly acrimonious dispute, Gensco Pharma says its former partner alleged the company inflated how prepared it was to supply the lucrative market.

  • Carrie LaFrenz and Max Mason

August 2023

A2 Milk CEO David Bortolussi says the China market remains very challenging due to a falling birth rate.

a2 Milk meets full-year guidance but warns on China

The a2 Milk Company has eked out a double-digit gain in revenue and small gain in 2023 earnings but warned China will be more challenging this year due to fewer newborns.

  • Carrie LaFrenz
Delaware Lt governor Bethany Hall-Long holding a tin of Care A2 Plus, purchased via Gensco Pharma which is now suing the formula maker in Australia.

Care a2 Plus’ US partner claims $200m in lost profits from failed deal

The US distributor is suing the Australian baby formula group - the latest legal issue plaguing the company.

  • Carrie LaFrenz and Max Mason

July 2023

Katrina Rathie hung on to her position as chairwoman of Bubs Australia after an unsuccessful board spill.

Bubs’ China problem gets worse

The infant formula player’s fourth quarter China sales crashed nearly 100 per cent compared to a year ago.

  • Carrie LaFrenz
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LittleOak founder Elke Pascoe is seeking to raise $10 million from investors.

LittleOak seeks $10m from investors as it expands in the US

The goat milk infant formula start-up, backed by Parc Capital, hopes to capitalise on growing demand from consumers seeking alternative green brands.

  • Carrie LaFrenz
Jack Gance, Bubs major shareholder.

Jack Gance questions Bubs spending after board spill fails

The billionaire co-founder of Chemist Warehouse and the second-biggest Bubs shareholder suggests that the company spent a staggering $5 million on its campaign.

  • Carrie LaFrenz
Early indications show that Bubs chairwoman Katrina Rathie will hang on to her job.

Early votes at Bubs indicate spill at infant formula maker to fail

The dispute between the company and its former managers and founders, Kristy Carr and Dennis Lin, has extended for months.

  • Carrie LaFrenz
Lee Ming Tee, former chairman of Allied Group, is a major backer of AZ Global.

Malaysian billionaire emerges as backer of Bubs’ biggest distributor

Lee Ming Tee is behind the conglomerate that owns InterContinental hotels in Australia, and also appears to be the silent partner in AZ Global.

  • Carrie LaFrenz
Andy Zhang – the founder of AZ Global, the biggest daigou trader in Australia – is seeking a refund for unsold stock.

Bubs’ distributor in China seeking to claw back $20m for unsold stock

In another twist in the battle for Bubs, its key China partner is seeking to return tins of unsold formula and claims Bubs owes it over $20 million.

  • Carrie LaFrenz

Original URL: https://www.afr.com/topic/baby-formula-5uu