Bega Cheese may still be on the prowl for other dairy companies to snap up.April 1, 2014 9:35am
Bega Cheese may still be on the prowl for other dairy companies to snap up.
The company started last year’s bidding frenzy for Warrnambool Cheese and Butter and although missing out to Canadian company, Saputo, ended up with a multi million bonus when it sold its Warrnambool shares.
Bega chairman Barry Irvin told Tatura Milk suppliers at last week’s meeting that the board still wants to see further consolidation of the dairy industry to improve value creation.
In February Mr Irvin said Bega Cheese ‘‘has the balance sheet strength, business profile and performance that positions it well to pursue that value creation’’.
A mystery buyer recently snapped up 9.4 million shares recently for $5.55 per share, representing an investment of $52 million in Bega.
Tatura milk is also in a stoush with the Australian Tax office over whether the company was a co-operative in 2009, 2010 and 2011, and the ATO has served up a tax bill of $13 million.
The tax office served the notice on parent company Bega on March 4.
Mr Irvin said he didn’ believe ‘‘the tax office is always right’’ and had gone back to its advisers to put a further submission to the office.
Shepparton police pursued two youths on foot near Waters Rd this afternoon.
The Mulwala Lions took a huge step forward in the race for the Murray League title with a hard fought, low scoring, 15 point win, against the fancied Barooga outfit, in near perfect conditions at Lonsdale Reserve on Saturday.
Chelsea Campbell is excited with her new business venture, after purchasing Carol Taylor’s hairdressing salon in Hogan St.
THE Echuca-Moama Country Music Festival will kick off next week at Moama RSL with three days of entertainment under the one roof.
NATIONAL tree day came early for Rochester Secondary College with 16 students planting 350 trees in little more than an hour on Thursday.
Goulburn Valley Water, in consultation with the Department of Health & Human Services, has lifted the Boil Water Notice for the township of Tongala.
Australian Army Cadets unit keeps winning awards.
Finley's well-respected Gordon Pyle will be remembered by the Southern Riverina community
HEATHCOTE Park Raceway was back in action on Sunday with a surprise for those expecting owner Russell Clarke to be enjoying his retirement.
Dozens of birds of all shapes and sizes flew the coop as Cobram hosted its inaugural poultry auction last Sunday.
Neil Buckley has been inducted as president of the Deniliquin Lions for the next 12 months.
Superior Seed Co ran a successful Winter Cropping Field Day at Deniliquin last week.
The Benalla Giants came out winners in both the under-14s and under-16s against the Benalla Bulldogs on the weekend.
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