Murray Goulburn Co-operative

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Food industry M&A eases in April - data

just-food's index of mergers and acquisitions in the international packaged food sector highlights the volume of deals being announced, as c...

Focus: Eyeing Asia, Saputo buys Aussie dairy giant

Dean Best weighs up why Saputo has moved to buy the embattled Australian dairy group....

Dean Best | 24 Aug 2017

Murray Goulburn has just closed what its CEO has called a "difficult" 12 months. In reality, it has been tough for the Australia-based dairy foods and ingredients group for longer than that. In April 2016, the Devondale brand owner announced a cut to the price it paid suppliers for milk, issued a profit warning and the departures of its CEO and CFO. Current chief Ari Mervis joined Murray Goulburn in February this year and has seen the supply of milk into the business continue to fall, denting sales. Under Mervis, Murray Goulburn has embarked on a strategic review and this week, the company, alongside its 2016/17 results and 2017/18 outlook, spoke at length about the reappraisal of its business. Dean Best reports.

Katy Askew | 26 Aug 2016

Embattled Australian milk processor Murray Goulburn reported its full-year results this week. The company, which part-listed on the Australian stock exchange to raise capital during the period, was rounding off a difficult 12 months, during which it cut payments to its farmer-owners, issued a series of profit warnings and announced the departures of its CEO and CFO. The group's much-anticipated financial update revealed lower sales but the firm managed to hit its revised profit target, which had been lowered earlier in the year. Here are just-food's key takeaways.

Dean Best | 2 Apr 2014

Parmalat, majority-owned by French dairy giant Lactalis, has made a significant move to bolster its business in Australia 15 years after it first entered the market. Parmalat has snapped up Australian dairy and fruit juice firm Harvey Fresh, a deal industry watchers believe could help the Italian firm's local business and help it expand its presence in Asia. Dean Best reports.

Dean Best | 14 Nov 2013

Two of the bidders for Warrnambool Cheese and Butter Factory have this week made fresh offers for the Australian dairy. The focus now moves to the third suitor - Canadian dairy giant Saputo, which has long coveted an entry into the market and is eyeing the business as a way into Asia.

Latest News

Simon Harvey | 18 Jul 2018

Saputo has agreed to sell the Koroit plant in Australia to local firm Bega Cheese for around CAD244m (US$184.3m) as part of a condition entered into with competition authorities when the Canadian dairy business acquired Murray Goulburn.

Andy Coyne | 19 Apr 2018

Australian dairy giant Murray Goulburn has announced chief executive Ari Mervis is to leave his role following the company being sold to Canadian peer Saputo.

Simon Harvey | 4 Apr 2018

Australia's competition watchdog has approved the US$1bn purchase of dairy processor Murray Goulburn by Saputo after the Canadian firm agreed to sell the Koroit milk powder plant, removing a barrier that had threatened to block the deal.

Andy Coyne | 6 Mar 2018

Canadian dairy business Saputo is to sell off Murray Goulburn (MG)'s Koroit milk powder plant, the Australian company has confirmed.

Andy Coyne | 5 Mar 2018

Australian dairy firm Bega Cheese has been linked with acquiring local peer Murray Goulburn's Koroit milk powder plant if it comes on to the market.

Dean Best | 1 Mar 2018

Australia’s competition watchdog has raised concerns over the sale of local dairy group Murray Goulburn to Canada’s Saputo, which already has assets in the country. | 9 Feb 2018

just-food presents the key metrics from company financials in bitesize format, with analyst insight and social media comment alongside graphs illustrating a business' historical performance to give you an easy-to-read digest of the numbers you need to know.

Simon Harvey | 7 Feb 2018

Australian dairy cooperative Murray Goulburn has warned the failure of a planned takeover by Canada's Saputo could trigger a chain of events that would cast doubt over the company's viability.

Dean Best | 2 Feb 2018

Australia's competition watchdog has pushed back the date on which it is set to announce its verdict on Saputo's planned acquisition of the operating assets and liabilities of local dairy giant Murray Goulburn. | 21 Dec 2017

just-food presents the key metrics from company financials in bitesize format, with analyst insight and social media comment alongside graphs illustrating a business' historical performance to give you an easy-to-read digest of the numbers you need to know.

Dean Best | 21 Dec 2017

The news stories that got you clicking over the last 12 months.

Andy Coyne | 15 Dec 2017

Australian dairy cooperative Murray Goulburn has revealed that its agreed settlement in relation to an investigation into milk prices will entail it paying a penalty of AUD650,000 (US$498,459).

Andy Coyne | 29 Nov 2017

Australian dairy cooperative Murray Goulburn's Edith Creek site in Tasmania has received an eleventh hour reprieve.

Simon Harvey | 21 Nov 2017

Australian dairy cooperative Murray Goulburn plans to eliminate about 70 jobs across multiple sites as part of a cost-efficiency drive, just weeks after Canada's Saputo struck a deal to buy the struggling business.

Dean Best | 17 Nov 2017

Murray Goulburn, the Australian dairy co-op, has settled with the country's corporate watchdog over claims the Devondale owner misled farmers about the price the business would pay for milk.

Andy Coyne | 3 Nov 2017

Canadian dairy business Saputo has given an insight into its plans to improve the fortunes of Murray Goulburn, the Australian dairy cooperative it struck a deal to buy last week for CAD1.29bn (US$1.01bn).

Simon Harvey | 27 Oct 2017

Canada's Saputo has agreed to buy struggling Australian dairy cooperative Murray Goulburn for CAD1.29bn (US$1bn), ending months of speculation over a potential suitor.

Simon Harvey | 26 Oct 2017

Bega Cheese said today (26 October) it is "no longer a potential purchaser'' for troubled Australian dairy cooperative Murray Goulburn, but suggested it may be open to other acquisitions.

Andy Coyne | 25 Sep 2017

New Zealand-owned dairy giant Fonterra has confirmed it has made an approach for embattled dairy cooperative Murray Goulburn.

Andy Coyne | 22 Sep 2017

Chinese dairy company Yili has denied stories in the press that it had made a substantial bid for Australian peer Murray Goulburn.

Andy Coyne | 21 Sep 2017

Up-for-sale Australian dairy processor Murray Goulburn has confirmed it has had approaches from a number of suitors interested in either buying some assets or taking over the whole co-operative.

Dean Best | 18 Sep 2017

Arla Foods has dismissed a report in Australia the European dairy giant was set to enter the bidding for local co-op Murray Goulburn.

Dean Best | 7 Sep 2017

New Zealand-based dairy and infant formula business A2 Milk Co. has been reported to be interested in buying assets from Australian co-op Murray Goulburn.

Dean Best | 6 Sep 2017

Dairy companies including Australia’s Goodman Fielder and Bega Cheese, as well as Italian giant Parmalat, are reported to be eyeing under-pressure Aussie cooperative Murray Goulburn.

Latest blogs

Dean Best | 28 Aug 2016

just-food is closed on Monday (29 August) for a public holiday but, while we down tools, catch up on some must-read insight and interviews.

Dean Best | 11 May 2016

Talking with our readers, a common problem among them is their battle to keep tabs on the changes to regulations in China. And the recent moves Beijing has made to revamp its rules around e-commerce have brought that concern into sharp relief.

Company research

Other Dairy in Australia

Other Dairy in Australia

Other dairy recorded 1% current value growth, the first time since 2012 that the category has experienced positive growth. This improvement was particularly influenced by the positive performances of...

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