South Australia’s Farmer’s Union Iced Coffee could soon be owned by an Australian company again after parent company Lion sells off the iconic brand.

Japanese company Lion has announced that it will be selling off its dairy and drinks businesses, including Farmer’s Union.

The iced coffee brand was sold to Kirin in 2007, before they merged with Lion Nathan, which it bought in 2009.

Australian cheese and dairy brand Bega is understood to be considering buying the brand, at an expected cost of about $500 million.

The Australian reports that the Australian company is the favourite among other, foreign suitors.

South Australia famously buys more Farmer’s Union Iced Coffee than Coca Cola, the only place in the world where a dairy drink outsells a cola.

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