Goodman Fielder takeover rumours

Posted by AFN Staff Writers on 28th February 2012

Rumours were circulating over a potential takeover suitor bidding for shares in Goodman Fielder after almost 10 percent of the company changed hands late Monday 27 February 2012 with UBS picking up the shares for the buyer. Tonight the buyer was officially revealed to be Wilmar International Ltd when a formal notification was lodged with the ASX.

Goodman Fielder is the company behind iconic Australian brands including Meadow Lea, Conwell’s (the skipping girl brand), White Wings, ETA, and breads including Mighty Soft and Wonder White.

Australian Food News last week reported the latest financial results of Goodman Fielder. The results were seen as disappointing. This followed a poor 2011 year and  Australian Food News had reported a management review of some of  the Company’s  less profitable business segments.

The Singapore-based Wilmar International made a  major Australian  acquisition  when it bought Sucrogen (which owns Sugar Australia)  in July 2010.  Wilmar International’s subsidiary Sucrogen has also been reported upon in Australian Food News for the  expansion of its Australian-based operations through a recent acquisition of its own.