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.
Australian food firm Goodman Fielder has denied rumours that a full buy-out by Asian palm oil giant Wilmar International is on the cards as it records big losses in 2012
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.
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.
Burns Philp's plan to raise A$2.1 billion (€1.3 billion) from a
share offering in its Goodman Fielder business underlines the
group's ambitions to dominate the Australasian ingredients market.
It would appear that the bid from Australian ingredients and yeast
company Burns, Philp & Co for Goodman Fielder is far from over
with the company saying on Wednesday that it had received approval
from the Foreign Investment Review...
Goodman Fielder, Australia's largest food company, has today
rejected a hostile bid by international yeast and ingredients
company Burns Philp. Goodman Fielder advised its shareholders to
spurn the bid because "the offer...
