Tuesday, 25 January 2022 11:30

Forrest moves into milk

Written by  Milking It
Forrest moves into milk

OPINION: Australia's richest man Andrew Forrest has quietly bought a 6.6% stake in one of the country's biggest milk processors, Bega Cheese.

One of his companies, Tattarang AgriFood Investments, purchased more than 20 million shares in Bega Cheese this week for about A$108 million on New Year's eve.

There is speculation over the ditch that Bega could launch a takeover bid for Fonterra's Australian business, which is under review and could end up on the chopping block.

Bega would have to borrow to pay for an offer for Fonterra, but with Forrest as a cornerstone shareholder, raising the money may not be a problem.

More like this

Plant-based bubble bursts

Plant-based bubble bursts

OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird Ventures, and its products are no longer available in supermarkets.

Exploited by one of their own

OPINION: Milking It believes a recent Employment Relations Authority ruling on the exploitation of three migrant workers from Indonesia highlights a trend in New Zealand – migrant workers being mistreated and oppressed by one of their own.

'Not our fault!'

OPINION: Milking It wasn’t too surprised to hear Kiwis’ trust in media has sunk to a new low.

Avian flu in cows

A lethal form of avian influenza has been confirmed in US dairy cattle in Texas and Kansas, the US Department of Agriculture says.

Popular Reads

Farmers oppose work visa changes

Farmers are crying foul over changes announced by the Government this week to the Accredited Employer Work Visa (AEWV) scheme.

Milk price certainty

Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following…
back to top

Featured

Feds back Fast-Track Approval Bill

Feds back Fast-Track Approval Bill

Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.

Machinery builder in liquidation

In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.

Two hemispheres tied together through cows

One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.

National

Frontline biosecurity 'untouchable'

Biosecurity Minister Andrew Hoggard has reiterated that 'frontline' biosecurity services within Ministry for Primary Industries (MPI) will not be cut…

Machinery & Products

New name, new ideas

KGM New Zealand, is part of the London headquartered Inchcape Group, who increased its NZ presence in August 2023 with…

All-terrain fert spreading mode

Effluent specialists the Samson Group have developed a new double unloading system to help optimise uphill and downhill organic fertiliser…

» Latest Print Issues Online

dairynewscover
ruralnewscover
winegrowercover

Visit archives

Milking It

Plant-based bubble bursts

OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter