Juice maker Berri now 100% foreign
Australia’s biggest juice maker, Berri Ltd, has now transferred completely into foreign ownership, with Asian beverages giant San Miguel Corp buying out the rest of the company it didn’t already own.
Philippines-based San Miguel has purchased the remaining 49 per cent stake in Berri – the company behind brands such as Australian Fresh, Daily Juice and Just Juice – for $169 million from former Berri chairman Doug Shears.
Mr Shears originally sold 50 per cent of the company to San Miguel for $167.5 million in August last year, with San Miguel soon after buying an additional one per cent from him to gain majority ownership.
San Miguel’s move to clean up the rest of the company has been widely expected since its $1.9 billion takeover of Australian dairy group National Foods Ltd earlier this year.
More: news.ninemsn.com.au
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