Chinese police seize 14,000 bottles of counterfeit Penfolds wine

THOUSANDS of bottles purporting to be Penfolds’ top-shelf wine have been seized in an anti-counterfeit operation in China. Chinese police seized 14,000 bottles of counterfeit wine following a complaint by Penfolds’ parent company Treasury Wine Estates about three months ago. The fake premium products were sold through Chinese giant Alibaba’s consumer-to-consumer website Taobao with sales…

130-year-old Brownes Dairy sold to Chinese firm.

One of Western Australia’s most recognised household dairy names — the 130-year-old Brownes Dairy — has been sold to a Chinese firm. Brownes chief executive Tony Girgis announced today the private equity group Archer Capital had sold the company to Shanghai Ground Food Tech, who they described as “experienced dairy operators who understand the industry”….

Foreigners in charge of Australia’s dairy destiny: Murray Goulburn sale

THE Australian dairy industry is no longer in charge of its own destiny. ANALYSIS: And the days of the large dairy co-operative are over. If Canada’s Saputo, with an annual turnover of $US8.4 billion last year, is successful in buying Murray Goulburn it would control up to three billion litres of milk in the Australian…

Murray Goulburn sold to Canadian – owned Saputo for $1.3 billion

CANADIAN family dairy company Saputo Inc has won the battle for Victorian-based dairy co-operative Murray Goulburn. Murray Goulburn has announced it has entered into a binding agreement to sell to Saputo Dairy Australia Pty Ltd, the Australian arm of the Canadian dairy giant, for $1.3 billion. The deal is subject to approval from the Foreign…

Chinese developers buy one-third of Australia’s sites in 2016

Chinese developers bought almost 40 per cent of the total $5 billion spent on Australia’s residential development sites in 2016, with a clear trend towards buying up land in far-flung Sydney and Melbourne suburbs, new research shows. Knight Frank’s report, The Rise of Chinese Developers in Australia, found Chinese developers bought $2.4 billion of residential development sites in…

Sydney more Asian than European

CHINA has overtaken England and New Zealand as the most popular country of birth in Sydney, according to the latest Census, released by the Australia Bureau of Statistics today. 4.7 per cent of the Greater Sydney population comes from China, followed by England on 3.1. Nationally, 1.3 million new migrants have come to Australia since…

Extended drought: QLD Farmers on verge of shooting cattle

QUEENSLAND graziers could be forced to shoot their cattle as parts of the state are savaged by soaring temperatures on top of an extended drought. AgForce cattle president Bim Struss said if the rain didn’t come soon, some graziers would be faced with no option but to shoot their cattle as the feed ran out…

Australian owned Weis company sold to international giant Unilever.

WEIS, one of Queensland’s most beloved ice cream companies has been bought up by international giant Unilever. Weis, which began its life when Les Weis started selling his iconic Fruito Bar in 1957, operates from a factory in Toowoomba.Unilever, who already own Streets ice cream, today announced it has entered into a definitive agreement to…

Australia Post confirms sale of historic Sydney GPO to Singaporean billionaires

Australia Post has confirmed the sale of one of Australia's most significant heritage buildings, the Sydney GPO, to two Singaporean billionaires, despite an outcry over heritage concerns and a secretive sales process. The sale stands as one of the last acts of outgoing Australia Post boss Ahmed Fahour who leaves the organisation on Friday, delivering…