Beston buys Australian Provincial Cheese for $2.2M

Company News

by David Chau

Beston Global Food Company Ltd (ASX:BFC) has acquired Australian Provincial Cheese for $2.2 million.

The assets acquired by Beston include plant and equipment, trademarks, IP and all other assets needed to continue the APC business.

APC produces cream cheese products under the Mable’s and Grange Peak brands – which Beston will produce from its Murray Bridge site.

Beston sees this as the first step of its expansion strategy to develop a state-of-the-art cheese processing facility which manufactures a diverse range of high-end premium dairy products for domestic and export markets.

Beston reported a net loss of $1.4 million at 30 June 2016.

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