Bega Cheese to Invest AUD 40 Million for a 70% Share of Tatura

The investment is expected to help expand the company's products, including cream cheese, powders, and infant formula plus give access to a pool of high quality milk, adds the Australian press.

26/04/07 Shareholders of Australian dairy company Tatura Milk Industries Limited have voted to accept a majority share takeover for their company by Bega Cheese Co-operative Society Limited, reports the Australian press.

Tatura Milk Industries Limited initially announced the takeover approach from Bega Cheese in February 2007. Bega Cheese would invest AUD 40 million (USD 33 million) for a 70% share of Tatura.

The investment is expected to help expand the company's products, including cream cheese, powders, and infant formula plus give access to a pool of high quality milk, adds the Australian press.