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 »

Foster’s today announced plans to transfer 13 Australian wine brands to a joint venture with Vok Beverages in line with their plans to overhaul their underperforming wine business. Vok Beverages will assume responsibility for the marketing, sales and management of the brands from 1 December 2009. Foster’s will continue to produce wine for the joint venture. The brands to be transferred to the joint venture are Queen Adelaide, Half Mile Creek, Minchinbury, Matthew Lang, Andrew Garrett,... ...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 »

Sara Lee has reported a binding bid of almost A$2.2 billion (€1.275 billion) from consumer products giant Unilever to acquire its global body care and European detergents businesses. Sara Lee announced plans to divest the business, which includes brands like Radox, earlier this year to allow for a heightened focus on their food divisions. They are still looking for a buyer on the remainder of their household care division. The proposed transaction, which is subject to customary closing conditions... ...Read more »

Bulla (Regal Cream Products) has won approval from the Australian Competition and Consumer Commission to purchase the remainder of Fonterra’s ice-cream business in Australia. The completion of the deal allows Fonterra to exit the ice-cream industry in Australia following their sale of the Peters (in WA) and Connoisseur brands to Nestlé. The acquisition, which was announced in April, provides Bulla with the license to manufacture and market the Cadbury ice-cream brand in Australia as well as... ...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 »

Lion Nathan, the subject of a takeover offer by major shareholder Kirin, has indicated they may sell their wine assets as soon as economic conditions improve. Lion Chief Executive Rob Murray told analysts yesterday that the wine industry was still facing difficulties with a glut, with the economic climate exacerbating the problem. With this in mind the company was not currently considering a sale of the division, which accounts for about 7 per cent of sales. “My view is there is still an opportunity... ...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 »

New Zealand dairy giant Fonterra has announced binding agreements with both Nestlé Australia and Regal Cream Products (Bulla Dairy Foods) to sell its Australian ice cream business. The world’s largest dairy exporter will sell the Peters brand in Western Australia and the Connoisseur ice cream brand to Nestlé, while Bulla will acquire the license to manufacture and market the Cadbury ice cream range in Australia. The decisions have reportedly been made to save the more profitable Browne’s... ...Read more »

Coles yesterday announced it would sell its Pharmacy Direct business to RX Direct (a company owned by the Pharmacist Members of the Terry White Chemists Advisory Board) as they focus on the arduous task of transforming the Coles business after years of underinvestment. Pharmacy Direct was bought by the former Coles Myer Group in March 2006, and sells a range of pharmaceutical products through a retail site in western Sydney, and through its mail order / online business. Coles Managing Director, Ian... ...Read more »