December 20, 2017
Bega Cheese has informed the ASX that it now owns more than 93 per cent of the shares in the Peanut Company of Australia and will proceed to full ownership through compulsory acquisition.
“PCA is an important part of our strategy of creating a ‘Great Australian Food Company’ which will include a Bega peanut butter with 100 per cent Australian peanuts,” Bega Executive Chairman Barry Irvin said.
“This strategy and acquisition will enable us to expand the production of peanuts in Queensland. This means more farmers, larger crops and secure manufacturing jobs in Queensland.
“Bega is following the trend in world retailing to source locally.
“We want our peanut butter and Vegemite to be hyper-local as that is what the public want and deserve.”
Bega Cheese will now have a complete supply chain for Bega peanut butter from farm to processing infrastructure at Kingaroy and Tolga in Queensland, and peanut butter manufacturing facilities at 1 Vegemite Way in Port Melbourne, owned by an Australian company.
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