The Australian Competition and Consumer Commission is currently considering the ethics and ramifications of the potential merger between the dairy processors and is taking submissions from all interested parties.
Lion Dairy and Drinks and Saputo both operate dairy processing plants and purchase raw milk from dairy farmers and milk brokers.
The two companies own the brands including, but not limited to: Devondale, Great Ocean Road, Liddells, Coon Cheese, Dairy Farmers, Masters, Pura, Farmers Union, Dare, Big M and Yoplait yoghurt.
The merger comes after Mengniu Dairy’s $600 million purchase of Lion Dairy failed to secure foreign investment approval earlier this year.
Lion Dairy is Japanese-owned, Mengniu is Chinese-owned and Saputo is Canadian-owned.
Saputo is in the top 10 of dairy processors in the world and is the top dairy processor in Australia.
Lion Dairy has 10 processing plants and other assets in Australia.
The closing date for submissions for or against the merger is 5pm on November 5.
All submission should be emailed to mergers@accc.gov.au with the title ‘Submission re:Saputo/Lion D&D – attention Karina Geddes/Nicholas Wellfare’
