Bega Cheese has confirmed its interest in acquiring Fonterra’s Australian dairy division, with the company now seeking informal clearance from the Australian Competition and Consumer Commission (ACCC).
The informal merger review process is a voluntary step allowing businesses to gauge the ACCC’s likely response to a proposed acquisition, including whether it may substantially lessen competition.
In a statement, Bega said it hopes to work constructively with the New Zealand-owned Fonterra Group and described itself as “the natural acquirer” of the Oceania assets. The company added it is “very interested” in pursuing the deal.
“The combination of Fonterra and Bega Group assets in Australia would lead to greater efficiencies and enhanced outcomes for Australian farmers, customers and consumers,” the statement said.
