Another day, one more Chinese buy up, this time a whole lot of iconic former Australian dairy names:
“The ACCC has cleared the way for China Mengniu Dairy to lap up Lion's Dairy and Drinks portfolio, which includes the Dairy Farmers, Pura milk, Dare and Farmers Union iced coffee brands. The competition watchdog says Mengniu's $600 million proposal to acquire Lion's raw milk processing facilities in Australia will not substantially lessen competition in the Gippsland region, where Mengniu already has a presence due to a partial ownership of Burra Foods. ACCC Deputy Chair Mick Keogh says while Burra and Lion D&D compete for raw milk, they are not close competitors. "Our investigations concluded that dairy farmers are unlikely to switch between the two," Mr Keogh said today. The ACCC also considered a combined Mengniu-Lion D&D would continue to be constrained by giants Saputo and Fonterra in the region, as well as a number of smaller raw milk processors. The deal still needs Foreign Investment Review Board approval.”
And, of course it will be approved, when does this toothless tiger ever knock anything back? I can’t remember. Another strategy being adopted is for a seemingly Australian company to buy up a whole range of businesses, then mysteriously enter into financial problems, and bingo, a sale to China. There is no easy answer about what to do here since for over half a century, the elites have been working on a program of deracination and elimination of Australian identity, so it becomes problematic to say exactly what Australia is any more, beyond something to be flogged off. And when that is all gone, then there will be nothing, and the elites will move on, leaving a burnt out former country.