The transaction is expected to be completed in February 2013, subject to the satisfaction of conditions.
Goodman Fielder CEO, Chris Delaney, said the transaction was consistent with the company’s strategy to optimise its portfolio by focusing on its core categories.
“This transaction is another example of the successful execution of our strategy to divest non- core businesses to enable us to focus our capital and marketing expenditure and our internal resources on our core categories and brands.
“Together with the sale, we have also structured a long term supply partnership with Nisshin to ensure Goodman Fielder maintains an efficient supply of flour and related products for our business in New Zealand.”
Source: Goodman Fielder
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