Who owns Masters?
Masters is owned by Bega (Australia, ASX: BGA), which has owned the brand since 25 January 2021.[1][2]
This ownership is reported in official statements but has not yet been matched to a regulatory filing.
Evidence: Bega Cheese Limited 2025 Annual Report, 1 September 2025. Last checked .
Key facts
- Current owner
- Bega Cheese Limited reported
- Owned since
- Owner HQ
- 🇦🇺 Australia, Bega
- Origin
- 🇦🇺 Australia, Byford
- Founded
- 1925
- Category
- Food › Dairy & alternatives › Milk & cream
- Parent ticker
- ASX: BGA
- Last verified
- · 2 sources
About Masters
Masters is a Western Australian milk brand. Its website says the dairy was first established in Byford in 1925 by Mr and Mrs H. Masters. It is now made at a factory in Bentley, Perth, for Bega Cheese Limited, and its flavoured milk bottles under one litre have been made from 100% recycled plastic since June 2024.
Ownership timeline of Masters
Where Masters sits in Bega
Controlling ownership as of . Brands grouped under the entity that owns them; large groups are collapsed.
Open the full Bega ownership tree →
See the full Bega brand portfolio (11) →
Other brands owned by Bega
Bega controls 11 brands on Brandtree, 9 of them in food.
Also in food
- Bega
- Bega Peanut Butter
- Betta Milk (1956)
- Big M
- Dairy Farmers (1900)
- Farmers Union
- Pura (1935)
- Vegemite (1923)
Other brands in milk & cream, and who owns them
The 172 brands in milk & cream on Brandtree belong to 81 owners. The largest is Dairy Farmers of America, with 10; Bega has 5.
| Brand | Owner | Owner based in |
|---|---|---|
| Alta Dena Dairy | Dairy Farmers of America | 🇺🇸 United States |
| Angkormilk | Vinamilk | 🇻🇳 Vietnam |
| Coronado | Dos Pinos | 🇨🇷 Costa Rica |
| Ambewela | Lanka Milk Foods | 🇱🇰 Sri Lanka |
| Hi High | SUU | 🇲🇳 Mongolia |
| Guliduo | Yili | 🇨🇳 China |
| Campina | FrieslandCampina | 🇳🇱 Netherlands |
| LALA | Grupo Lala | 🇲🇽 Mexico |
About the owner: Bega
Bega is a publicly listed company headquartered in Bega, Australia, founded in 1899. Brandtree records 11 brands under its control, and it is listed as ASX: BGA.
Bega Cheese Limited, which trades as Bega Group, began in 1899 as a dairy co-operative in the Bega Valley of New South Wales and still has its principal registered office in Bega. It describes turning itself from a regional cheese co-operative into a branded food and beverage company by buying Tatura Milk Industries, the Mondelēz grocery business in July 2017, which brought Vegemite, and Lion Dairy and Drinks in January 2021. It reports Branded and Bulk segments and is listed on the ASX under the code BGA.
🇦🇺 Masters and other Australian brands
Brandtree records a controlling owner for 228 brands that began in Australia. 72 of them (32%) are now controlled by a company headquartered in another country; Masters is not one of them.
- Bellamy's Organic — Mengniu 🇨🇳
- Bubs — Bubs Australia 🇦🇺
- Cenovis — Opella 🇫🇷
- Dolmio — Mars 🇺🇸
- Fusion Health — McPherson's 🇦🇺
- Ingham's — Inghams 🇦🇺
Frequently asked questions
Who is the parent company of Masters?
The parent company of Masters is Bega, a publicly listed company headquartered in Australia.
Is Masters Australian?
Yes. Masters originated in Australia in 1925 and its owner, Bega, is also headquartered in Australia.
Since when has Bega owned Masters?
Bega has owned Masters since 25 January 2021.
Is Masters still owned by Bega?
Yes. As of 25 October 2026, Masters is still owned by Bega. The ownership record was last checked against primary sources on that date.
Sources (2) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Bega Cheese Limited 2025 Annual Report — Bega Cheese Limited, Official document, published 1 September 2025; retrieved 16 September 2026.
- [2] Bega Cheese: Acquisition of Lion Dairy & Drinks by Bega Cheese completed (ASX announcement) — Bega Cheese Limited, Stock exchange filing, published 25 January 2021; retrieved 25 October 2026.
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