Beston Global Food Company (ASX: BFC): A Comprehensive Overview

Headquartered in Adelaide, South Australia, Beston Global Food Company (BFC) is a major player in the dairy and food industry. The company is dedicated to producing high-quality cheese and lactoferrin, underlining its commitment to delivering nutritious and sustainable food options. Founded with a vision of innovation and excellence, BFC has established a notable presence both domestically and internationally.

Location and Facilities

BFC operates advanced facilities primarily located in South Australia, including:

• A mozzarella and hard cheese plant in Jervois.
• A dairy nutraceutical plant in Jervois, focusing on lactoferrin production.
• King Island Dairy, famous for its premium and specialty cheeses.

Financial Performance

For the fiscal year 2022-2023, Beston Global Food Company reported the following financial results:

• Total revenue: Approximately AUD 110 million.
• EBITDA: AUD 8.1 million.
• Net Profit After Tax (NPAT): AUD 2.5 million.

Important Company Events

• 2018: Launch of the state-of-the-art nutraceutical plant specializing in lactoferrin.
• 2020: Acquisition of the Dairy Protein Plant (DPP) at Jervois to boost production capacities.
• 2022: Achieved record production and sales of mozzarella cheese, serving global markets such as Asia and the Middle East.
• 2023: Commenced evaluation of potential bids for its core cheese and lactoferrin business, marking a strategic shift to enhance resource allocation.

Management

The key figures in the company's leadership include:

• CEO: William Johnson
• CFO: Sarah Ferguson
• Chairman: Roger Sexton

Company Plans

BFC is in the process of assessing a possible sale of its core cheese and lactoferrin operations, aiming to align more closely with growing global demands for nutritious dairy products. The strategy focuses on intensifying efforts in premium cheese and health-oriented product lines, exploring new markets, and fostering innovative product development.

Recent Developments

Facing significant financial pressures, notably due to exceptionally high operating costs and steep energy prices, Beston Global Food Company has entered voluntary administration. This decision highlights the challenging economic climate and the company's effort to navigate these difficulties strategically. Unfortunately, efforts by voluntary administrators from KPMG to secure a buyer have been unsuccessful, leading to the winding down of operations.

References: Beston Global Food Company Annual Report 2022-2023, ASX Announcements and Press Releases.

Modified: 2025/02/04

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