Mead Johnson Nutrition Company (NYSE: MJN) is pleased to announce it has reached an agreement to acquire spray drying and finishing capabilities in Australia from Bega Cheese Limited (Bega), one of Australia's leading dairy product companies. This deal builds on the long and successful relationship between the two companies, as Bega has been a certified ingredient supplier for MJN products since 2009. "We believe that supply chain flexibility is important in the pediatric nutrition category," commented Kasper Jakobsen, president and chief executive officer. "This acquisition further strengthens our ability to protect and expand our growth in China by creating both additional capacity and the ability to adapt to a changing regulatory environment." "Bega is known the world over for its pure, high-quality dairy sourcing and its environmentally responsible operations," noted Jeff Jobe, Senior Vice President - Global Operations. "These outstanding facilities - with which we are very familiar - are a perfect fit for our global supply chain network, which is built on our uncompromising commitment to scientific rigor and product quality." "In our drive to become even more consumer-centric, this move also enables us to better respond to evolving consumer preferences and to compete effectively in additional market segments in China," added Jakobsen. The transaction is expected to close in the second quarter of 2017. About Mead Johnson Mead Johnson, a global leader in pediatric nutrition, develops, manufactures, markets and distributes more than 70 products in over 50 markets worldwide. The company's mission is to nourish the world's children for the best start in life. The Mead Johnson name has been associated with science-based pediatric nutrition products for over 110 years. The company's "Enfa ™" family of brands, including Enfamil ® infant formula, is a world leading brand franchise in pediatric nutrition. About Bega Cheese Today, with sites spread from Bega to Melbourne to Northern Victoria, Bega Cheese employs over 1,700 people and the company has evolved from its modest and localized co-operative heritage in Bega into a significant and innovative player in the Australian and international dairy industry. Bega's rich history stands in pride of place across the business, and the factors which have driven its success for over a century remain enmeshed in its culture, ensuring that it remains an Australian icon.