Farmers Union Iced Coffee could be back in Aussie hands soon
Farmer's Union Iced Coffee could soon be back in Australian hands, and you could even buy a share of the company yourself.
Lion, which last month announced the closure of the West End Brewery after 160 years in business, is also selling its dairy and drinks business, which includes Farmer's Union, as well as other milk brands such as Pura, Dairy Farmers, King Island Dairy and Mersey Valley cheese.
Farmer's Union dates back to 1888, when it was formed as a grain producers union in Jamestown, according to Wikipedia, however the much loved iced coffee was launched in 1977, and was eventually merged into National Foods which listed on the share market in 1991.
Japanese company Kirin acquired National Foods in 2007, and merged it with brewer Lion Nathan, which it bought in 2009.
But Bega Cheese, which is listed on the ASX, is now the frontrunner to buy Lion Drinks and Dairy, according to a report in The Australian.
The dairy business is expected to fetch about $500 million, with final bids due in coming days.
Bega, Tanarra Capital and Saputo are all in the race to buy the company, but Bega is rumoured to be the favourite, The Australian says.
FUIC is particularly famous for being the only milk-based drink to outsell a cola drink in any jurisdiction globally at one point, and you can not only drink the stuff, but also buy iced coffee merch such as hoodies and caps.
Bega Cheese is valued at about $1.1 billion itself, and its brands include Vegemite, the Bega Cheese ranges, as well as dips and mayonnaise.
Originally published as Farmers Union Iced Coffee could be back in Aussie hands soon