Wilmar acquires 10.1% interest in Goodman Fielder
Singapore-based Wilmar International Limited has announced that it has acquired a 10.1 per cent interest in publicly listed Australian food company Goodman Fielder for approximately AU$115 million (US$124 million).
Goodman Fielder owns leading consumer brands in the baking, dairy, home ingredients and edible oils categories across Australia, New Zealand and Asia Pacific. Goodman Fielder has a portfolio of iconic Australian and New Zealand brands including, Meadow Lea, Praise, White Wings, Pampas, Mighty Soft, Helga’s, Wonder White and Meadow Fresh.
This acquisition will make Wilmar the largest shareholder in Goodman Fielder. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.
All of these brands are complementary to Wilmar’s consumer pack business (which sells branded products to China, India, Indonesia, Vietnam and Bangladesh) and also Sucrogen’s branded sugar business in Australia.
Wilmar’s Chairman and CEO, Mr Kuok Khoon Hong said, “Wilmar is currently assessing whether to increase its shareholding in Goodman Fielder.”
Goodman Fielder currently operates an extensive manufacturing and distribution network employing over 7,500 people and delivering to more than 30,000 outlets each day.