Bega Cheese says it is “delighted” the Australian Competition and Consumer Commission has approved the company’s purchase of a Victorian dairy processing plant.
“Bega Cheese can now work with SDA (the retail, fast food and warehousing workers union) to achieve a timely completion of the purchase,” the company said in a public statement on Friday.
The $250million purchase of Montreal-based Canadian dairy company Saputo’s milk-drying plant in Koroit was brokered after the ACCC required its sale as part of Saputo’s takeover of Murray Goulburn earlier this year.
The sale of the plant with over 100 employees, was announced in July, and designed to increase competition for milk in south-west Victoria.
In July, Bega Cheese executive chairman Barry Irvin said the purchase would cement the company’s presence in “one of the strongest dairy regions in Australia”.
The company’s CEO Paul van Heerwaarden said the purchase would continue the growth of the company’s “core dairy business and provide domestic and export customers with an expanded range of products”.
Bega Cheese currently operates facilities across NSW and Victoria, processing around 650million litres of milk each year.