Bega’s still sweet on Capilano
Bega Cheese continues to maintain its taste for honey, lifting its stake in Brisbane-based Capilano Honey to about 14.3 per cent in the past week.
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On October 11 Bega notified the Australian Securities Exchange its shareholding had grown to 1.25 million shares or 13.2pc, which this early week was updated to 1.35m shares.
The on-market purchases were bought at prices ranging from $20.31 a share to $21.
Meanwhile, Capilano shareholders will vote on a $190 million scheme of arrangement takeover offer for the company by Brisbane-based joint venture investment group, Bravo BidCo, on November 15.
Bravo bidCo, indirectly owned by agribusiness investor group Wattle Hill and ROC Capital, has offered $20.06/share to absorb Capilano’s current shareholding to take a controlling stake.
Capilano directors, Simon Tregoning and beekeeper, Phillip McHugh, from Tamworth, are also retiring from the board at the November annual general meeting.
Elders livestock boss leaving
Elders’ national livestock manager, Chris Howie, is to end 31 years of service with the farm services and agency business on November 2.
Mr Howie has held his current role for 10 years, having started with Elders in 1988 at Murray Bridge in South Australia, then doing 11 years in Wilmington and Eudunda SA as a remote representative.
In 2000 he moved to Inverell in NSW for five years where he fondly remembers the “great clients and a great group of Elders agents” he worked with as a team in the New England.
His later roles included SA-Northern Territory livestock manager, key account management and heading the National Livestock and Wool portfolio.
“My health is good, Elders is strong and it’s time to step out, freshen up and see what is around,” Mr Howie said.
Nestle ramps up A2 competition
Infant formula giant, Nestle, is set to launch its own brand of A2 baby formula in Australia and New Zealand.
The move is in direct response to the success of A2 Milk Company’s stellar performance in Australia and Asia with its Platinum formula.
The Swiss giant is launching its NAN A2 brand in Coles supermarkets and online in Australia and its S-26 A2 brand through Woolworths subsidiary, Countdown, in NZ.
In February Nestle also launched Illuma A2 formula brand as part of its Wyeth Nutrition portfolio.
A2 milk contains only the A2 beta-casein protein, not the A1 protein which has been linked to indigestion among some consumers.
A2 Milk’s Platinum baby formula was launched in 2013 and has 36 per cent of the infant formula market her, according to the company.
Agribusiness backs innovation show
Nine key agribusiness organisations have pledged support for the Global Forum for Innovations (GFIA) exhibition in Brisbane next month.
The two day show is part of a series of fairs run internationally to champion sustainable food production and innovation.
It will showcase leading-edge technology in precision and smart farming and provide exhibition space for suppliers in technology for controlled environment and protected cropping.
Conference and side-event programs are included in the program.
Australian industry support for the November 27 and 28 event has come from Agribusiness Australia, Queensland Farmers’ Federation, AgForce Queensland, Irrigation Australia, Growcom, Passionfruit Australia, Queensland Olive Council, the Society of Precision Agriculture Australia and Northern Territory Farmers Association.
“A stronger agribusiness sector benefits our communities and our nation’s financial and cultural wealth, and this event will no doubt be invaluable in creating new business opportunities, advancing knowledge and supporting greater collaboration,” said Agribusiness Australia chief executive officer, Tim Burrow.
GFIA is giving away 2000 free tickets to food producers, policy makers and investors.
- Visit www.gfiaaustralia.com for further information.
MLA report goes digital
Meat and Livestock Australia’s 2017-18 annual report has been released offering a full overview of MLA’s program of work, performance and key financial information for the red meat and livestock industry.
This year’s annual report is available for the first time in an online format, although traditional print and pdf versions are also available.
MLA managing director Richard Norton said the report is a critical component of MLA’s open and transparent reporting of how MLA is investing levies to foster prosperity in the Australian red meat and livestock industry.
It report highlighted some of the key achievements across both domestic and international marketing, as well as across significant research and development investment.
“With many of the Australian red meat and livestock industry’s key supply regions in the grip of drought, 2017–18 has been a challenging year for many of MLA’s stakeholders, particularly many producers,” he said.
“The common theme across MLA’s work has been an ongoing focus on customer centricity – that is the customer is king and must come first in all that we do.
“The Australian red meat and livestock industry has a good story and MLA has invested in a range of initiatives to share it.”
- The annual report can be viewed online via http://annualreport.mla.com.au/