TasFoods (ASX:TFL) closes sale of Betta Milk and Meander Valley Dairy to Bega Cheese

TasFoods completed the sale of Betta Milk and Meander Valley Dairy businesses to Bega Cheese (ASX:BGA).

TasFoods and its subsidiary Van Diemen's Land Dairy executed the divestment, including certain assets.

The acquisition involved a perpetual, royalty-free license for using the Pyengana Dairy brand for milk and cream products in Australia.

All conditions precedent have been satisfied, with a cash consideration of $11.0 million and an unchanged inventory adjustment.