Goodman Fielder has announced the sale of its Commercial division edible fats and oils operations to Cargill for $240 million. The ASX-listed manufacturer announced they would proceed with a sale earlier this year as they look to focus on their consumer brands. The deal will enhance Cargill’s operations in Australia, which already include oilseed processing and further value adding, grain and oilseed merchandising, bulk handling, flour milling through its Allied Mills joint venture, and beef... ...Read more »

A list of potential bidders for Goodman Fielder’s commercial fats and oils business has been created by their adviser Citigroup (C), with Dubai-based IFFCO considered a lead contender, according to a report in today’s Australian Financial Review. Goodman announced a sale of the underperforming business last month as part of a change in strategic direction that will see a greater focus on consumer brands. The firm is hoping for between $300 million and $400 million from the sale. A spokesman... ...Read more »

Goodman Fielder, Australia’s largest food manufacturer, could dispose of A$720 million of assets in the wake of a strategic review that is currently underway, according to reports.The two divisions considered most likely to be under scrutiny are the $200 million commercial oils business and the $520 million New Zealand dairy division, the Australian Financial Review advised, citing the views of analysts at Merrill Lynch and ABN Amro. There were rumours in January that Parmalat had a keen interest... ...Read more »