The Chinese business regulator has given the green light for Wilmar International and First Pacific to acquire Australian food manufacturing major Goodman Fielder.
Iconic Australian food maker Goodman Fielder has finally agreed to an A$1.34bn (US$1.26bn) offer by Wilmar International and First Pacific Company to acquire the company after the last two bids were turned down.
Australian food major Goodman Fielder has announced that it has sold its biscuits business to Green’s Food Holdings, a move in line with its strategy over the last two years to streamline its product portfolio.
Australian food firm Goodman Fielder said that thanks to better dialogue with its retail partners, agreed price increases across its bakery arm will help boost business further.
Struggling food firm Goodman Fielder will add further factories to its string of closures as it desperately tries to slash costs and consolidate business.
Australasian food processing major Goodman Fieldr has inked an agreement to sell Integro, its commercial oils business, to a consortium comprising of GrainCorp and Gardner Smith.
Struggling Australian food firm Goodman Fielder has lowered its full-year 2012 (FY12) earnings forecast as costly restructuring of its baking units and rocky trading conditions slam revenues.
Australian food firm Goodman Fielder is fusing its bakery business with three site closures as part of a strategic reorganisation of its business to reduce costs and improve efficiency amid struggling sales.
Asian agribusiness, Wilmar International, has secured a 10.1% shareholder stake in Australian food giant Goodman Fielder, and will consider further investment.
The Australian food giant Goodman Fielder faced another quarter of declining profits and revenues even as the company prepares to sell assets in both Australia and New Zealand.
External pressure on its bakery division has seen food giant Goodman Fielder's earnings slip in the last year, the Australasian company said in its annual financial results.
Cargill’s bid to buy Goodman Fielder’s edible fats and oils business looks to be scuppered by the Australian competition authorities, who say it would be an unacceptable concentration of refining assets in the country.
Cargill has entered into an agreement to acquire the edible fats and oils business of Goodman Fielder in Australia and New Zealand, which it says will aid efficient future growth in the region.
