Tuesday, 25 January 2022 11:30

Forrest moves into milk

Written by Milking It

font size decrease font size increase font size
Print
Email

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.

Featured

Ballance Returns to Profit, Announces $18.2m Rebate

Ballance Agrinutrients chief executive Kelvin Wickham says despite a tough year, he is pleased the business has returned to profit.

Mark Cameron Steps Down, Reflects on Farmers' Voice

When Northland farmer Mark Cameron entered parliament six years ago, the Beehive was a lonely place.

What Would Synlait Be Worth to Fonterra or a2 Milk?

Speculation of a possible joint move by Fonterra and a2 Milk to buy Synlait raises a much bigger strategic question, says agribusiness expert Dr Nic Lees.

Ex-National MP: Coup Attempt Could Cost Luxon the Election

I think it's going to greatly weaken National at the election. That's the view of a former senior National MP on the recent attempted coup against Prime Minister Christopher Luxon.

RMA Reform Still on Track Despite Wellington Drama — Feds

Despite political shenanigans in Wellington, farmers are confident that Resource Management Act (RMA) reforms will get over the line in this term of Parliament.

NZ Pest Crisis Costs Farmers $466M a Year — Survey

New Zealand's pest problem has reached crisis point, according to Federated Farmers' second National Pests Survey, which shows farmers are spending more money and effort on control — yet pest numbers keep climbing faster than they were two years ago.

National

Timaru-Bred Bull Takes Out 2026 Mahoe Trophy

An LIC bull, Tronnoco AR Sadio-ET S3F, bred by Tony and Keri O'Connor of Tronnoco Farming Co Ltd near Timaru,…

Ballance Urges Farmers to Plan Ahead for El Niño

With forecasters advising El Niño conditions will develop through winter and strengthen into spring and summer, Ballance Agri-Nutrients is encouraging…