Ac­qui­si­tion will grow peanut sup­ply chain

South Burnett Times - - NEWS - — TOBI LOF­TUS

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.

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