Bega’s Betta Milk and Meander Valley Dairy acquisition officially finalised

The sale of several well known dairy brands to a mainland buyer has been finalised. Find out how much they went for.

Betta Milk delivery van.

Bega Group’s acquisition of Betta Milk and Meander Valley Dairy has officially been completed.

Both brands were previously owned by TasFoods but were bought for $11m by Bega.

The acquisition also allows Bega a perpetual, royalty-free licence to use the Pyengana Dairy brand for milk and cream products in Australia.

Bega Group CEO Pete Findlay said he was excited about the acquisition.

“Bega Group is a proud Australian business and has a history of maintaining ownership of local brands,” Mr Findlay said.

Meander Valley Dairy products, creams and butters.

“We are proud to add 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.”

TasFoods chief executive Scott Hadley previously said the Bega acquisition would allow the company to focus and grow its poultry division.

“It is pleasing that Bega, an iconic Australian company with a strong heritage in both the dairy sector and Tasmania, has chosen to add Betta Milk, Pyengana milk and Meander Valley Dairy to its stable of brands,” Mr Hadley said.

“We are confident that the Betta Milk and Meander Valley Dairy business, its customers and employees will continue to thrive under the custodianship of an equally proud, Australian-owned group in Bega.

“The transaction allows us to sharpen our focus on delivering organic growth across Nichols Poultry and Pyengana cheese while continuing to identify and evaluate strategic and financially compelling opportunities in adjacent, high-growth food and beverage sectors to create sustainable value for our shareholders.”