HWL Ebsworth has advised TasFoods Limited (ASX: TFL) on a sale contract with Bega Cheese Limited (ASX: BGA, Bega) for the sale of Betta Milk and Meander Valley Dairy for $11 million subject to customary adjustments.
Bega will acquire the Betta Milk and Meander Valley Dairy brands, Betta Milk plant and equipment (P&E) and the staff in both divisions, together with a licence to use the Pyengana Dairy brand for milk and cream products in Australia.
The transaction is subject to the satisfaction of certain conditions, including Australian Competition and Consumer Commission not objecting.
The HWL Ebsworth team was Brendan Earle (Lead Partner), assisted by Daryl Lim, Adam Goldner and Yi Tung. Peter Campbell advised on competition law issues; Matthew Craven and Scott La Rocca advised on intellectual property matters; Thomas Kim and Kenneth Lee advised on ASX issues and Antony Logan and Zac Bury assisted with property leasing.
Brendan Earle said:
“We were pleased to assist TasFoods with this strategic transaction as the sale of Betta Milk Dairy and Meander Valley Dairy assists to simplify TasFoods’ operations and strengthen its balance sheet.”
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