Acquisition will grow peanut supply chain
BEGA Cheese has announced the takeover of all the issued PCA shares was an unconditional offer.
Executive chairman of Bega Cheese Barry Irvin made the statement to the ASX on Friday,
“The acquisition of PCA will help grow the supply of Australian grown peanuts for the manufacture of peanut butter at our Port Melbourne factory and supply to other PCA customers,” Mr Irvin said.
“We have plans to increase the domestic supply of peanuts by working with farmers to expand peanut plantings and production.
“We have a long history of working with farmer suppliers in the dairy industry and we will apply that experience to the peanut industry.”
PCA Board chairman Ian Langdon said there were obvious synergies following Bega’s recent acquisition of the Mondelez Peanut Butter business ( branded as Kraft peanut butter).
“Bega’s acquisition of PCA will ensure continued Australian ownership of the iconic peanut business,” Mr Landon said.
“The PCA board considers that the bid, if successful, will also facilitate business expansion opportunities and provide confidence to farmer suppliers to expand peanut plantings and increase production and therefore provide additional supply to our customers.”
Bega Cheese is an Australian dairy company founded in 1899 in Bega, New South Wales.
In January 2017 the company took over Mondelez, which includes Vegemite and Kraft- branded peanut butter.