You may want to correct (or at least clarify) your statement again.
I think you'll find that Fonterra do not OWN the Bega brand in Australia for use on those products, they merely license it, and pay Bega ongoing royalties for doing so.
From what I can gather Fonterra has the option to renew the agreement when it expires (in 2026) but they clearly only have rights to the brand under a (renewable) license agreement involving ongoing royalties as a percentage of retail sales.
Happy to be corrected. My reference is AFR Street Talk October 5, 2021.
Ann: Trading Update and Sale of Port Melbourne Site, page-54
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