Ann: Coburg site to close, page-12

I am continuing curious about Bega but decided to let go of my last parcel of shares @wilto ....the $180M debt going paid by the expensive SPP wasn’t very likeable.


Here’s a bit more on early book value of Coburg as much as possible.....

Purchase of the Coburg dairy plant from Di Cicco in October 2008.
https://www.begadistrictnews.com.au/story/1076034/bega-cheese-boost/

In the company prospectus (26/07/2011) it owned four properties including Coburg
https://hotcopper.com.au/documentdownload?id=tuE7JrfFgm/OGe3kZX6MEW/zTRZftw/qmg2khNRfkqsgSrvSEIoXCwpjPk31lldN3GguO91Mf4+zp9vHAIc+yeEjZA==

Depreciation strategies from prospectus here:



In the 2010 Annual report it shows that, in 2009, the (four) land sites were valued at a consolidated cost value of $79,088,000 and a company cost of $59,454.
2010 Bega Annual Report





As a bit of an aside, one of the four properties was Kraft’s factory in, Strathmerton, rural Victoria, which, purchased in 2008, came with a ten year supply agreement as a “multi million dollar deal” https://www.smh.com.au/national/bega-kraft-to-generate-150-new-vic-jobs-20081218-716a.html (strange and long love/hate relationship going on with the two long term and erstwhile ‘bed buddies’ now battling a labelling case in court .




A brief history from 2016 Senate Enquiry into dairy announcement ( I did not keep link)