Warrnambool Cheese and Butter Factory (WCB) shareholders have approved the company’s takeover of Lion Diary’s everyday cheese business for $137.5 million.
Lion’s everyday cheese business’ operations include its cut and wrap facility and brands Coon, Cracker Barrel, Mil Lel, and Fred Walker.
Last month, Warrnambool said the acquisition will enable it to increase its presence in consumer branded everyday cheese products segment in Australia, with the deal expected to close towards the end of May.
The EDC business generates annual sales of around $160 million and employs 170 people. Lion’s cut and wrap operations are located in a building owned by WCB, which is adjacent to WCB’s cheese manufacturing facility in Allansford, Victoria.
