Dr Forrest’s Tattarang Agrifood Investments this week bought another $35m of the dairy company’s shares to take his stake to nine per cent.
His company spent $108m on Bega Cheese shares late last year to become one of its biggest shareholders.
It was only last month Dr Forrest spent $35m buying more than five per cent of Australia’s largest beef producer, Australian Agricultural Company.
He has enormous private beef interests through his company Harvest Road particularly across the top of Western Australia.
This week he spent an estimated $70m buying the Springvale Aggregation in the east Kimberley.
Dr Forrest also has substantial financial interests in stock feed and aquaculture.
Last year he also bought iconic Australian bootmaker RM Williams for a reported $190 million with promises to grow the company.
Bega Cheese last month announced a 48 per cent rise in half-year profits.
It spent $534m early last year to takeover the Lion Dairy & Drinks business.