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Leading Australian dairy firm Beston Global Food has entered voluntary administration after failing to find a buyer, according to a report in Convenience & Impulse Retailing.
The Beston Global Food product range includes cheese, soft dairy and dairy powders, as well as non-dairy products such as bottled water.
According to sources, administrators were called in after a proposal by Megmilk Snow Brands to acquire Beston Global Foods’ production facility in Jervois fell through.
Commenting on the situation, Beston Global Food’s CEO Fabrizio Jorge commented: “The Megmilk offer would have enabled all of the jobs at Jervois to be preserved and would have led to an increase in demand for milk for processing at the Jervois factory over time”.
Beston Global Food had reportedly struggled in the face of rising interest rates and higher operating costs.
Source: Convenience & Impulse Retailing / Beston Global Food
