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 »

ASX-listed food manufacturer Goodman Fielder has this afternoon given an update on progress of the divestment of their commercial fats and oils business. The firm announced plans to sell the business earlier this year in the wake of a strategic review so that they could focus more heavily on their consumer brands, and has since sounded out offers from interested parties. “The company has undertaken a sale process, receiving a number of offers for the business,” they advised in a statement.... ...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 »

Australia’s largest food group has announced that it will be shifting their strategic direction to increase focus on consumer brands. The changes will see Goodman Fielder look for suitable buyers of their commercial fats and oils business – which includes the Crisco brand. “As a consequence of our decision to focus on our consumer brand portfolio, we will be exploring options for the divestment of our Commercial edible fats and oils business,” Managing Director, Peter Margin,... ...Read more »