From Yahoo Finance: 2025-05-06 08:32:00

Australian food company Bega Group is closing its cheese processing and packaging facility in Strathmerton, Victoria, transferring operations to New South Wales by mid-2026. The move will impact around 300 employees, with cost savings of A$30m annually. The consolidation will generate non-cash impairments of A$30m to A$40m and one-off cash costs of A$30m to A$40m. Bega will invest A$50m in the Ridge Street site, creating 100 jobs. The company anticipates a two-cent improvement in earnings per share post-consolidation. Despite the closure, Bega will maintain a strong presence in Victoria with five other manufacturing facilities employing over 1,700 people.



Read more at Yahoo Finance: Bega Group to shutter Strathmerton plant in consolidation exercise