South Australian dairy producer Beston Global Food Company said it had experienced “a perfect storm of adverse events” prompting it to go into voluntary administration. The company is one of the largest exporters of dairy products from South Australia, employing 159 people in the state. It is well known for award-winning cheese products, whey, and high purity lactoferrin protein that is sold to pharmaceutical and health nutraceutical companies.
” There are fears Beston Global Food company’s collapse could devastate local dairy farmers, who may also be forced to close down as a result. The South Australian Dairyfarmers’ Association said several farmers were owed more than $600,000 each. Accounting firm KPMG was appointed voluntary administrator of the company and said business would continue as usual until recapitalisation was completed, or a sale secured.
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