Bega Cheese has completed a multi-million takeover of Lion Dairy, bringing a suite of iconic brands back under Australian ownership. Bega Cheese paid $534 million (US$413 million) for the company from Japanese beverages giant Kirin Holdings. Bega’s Executive Chairman Barry Irvin confirmed the news in an investor update (pdf) on Monday. “Today is a significant day in the history of Bega, the acquisition of Lion Dairy & Drinks doubles the size of the company with revenue of $3 billion and brings together great brands including Bega Cheese, Vegemite, Dare, Farmers Union, Dairy Farmers, Yoplait, B honey, Big M, Masters, Juice Brothers and Berri,” Irvin said. “This goal of creating a great Australian food company with the capacity to service our customers in Australia and around the world took a major step forward today,” he said. Lion Dairy made headlines in August after Treasurer Josh Frydenberg decided against approving a $600 million sale …