Bega Cheese Limited
(ASX:BGA) was focused on acquisitions, not selling down its stake in Warrnambool Cheese & Butter Factory Co
(ASX:WCB) when it made its bid for the cheese maker, according to media reports.
Bega chairman Barry Irvin told media he thought the dairy industry had a lot more consolidation going on.
Mr Irvin said Bega had been very successful in acquiring and building business and he thought there was a great opportunity there.
He said the interest sparked by the bidding process was positive for the entire dairy sector.
Bega Cheese reported a net profit of $25.4 million in the 2013 financial year.
