Goodman Fielder directors recommend $1.3 billion First Pacific and Wilmar joint takeover
July 2, 2014

Goodman Fielder directors recommend $1.3 billion First Pacific and Wilmar joint takeover One of Australia’s largest food manufacturing companies, Goodman Fielder, has entered into a scheme implementation deed with Hong Kong-based investment management and holding company First Pacific Company Limited (First Pacific) and leading Asian agribusiness Wilmar International Limited (Wilmar). Under the Scheme, First Pacific and Wilmar will acquire 100 per cent of Goodman Fielder shares. Goodman Fielder’s... ...Read more »

Treasury Wines rejects takeover proposal
May 21, 2014

Treasury Wines has rejected a takeover bid from US-based global investment firm Australian winemaker Treasury Wine Estates Limited (Treasury Wines) has rejected a takeover proposal of $4.70 cash per share from US-based global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR), saying it does not properly value the Company. While it owns 80 brands in total, the Penfolds wine brand is central to Treasury Wines operation as a premium winemaker. The Penfolds brand was founded in Australia in... ...Read more »

Goodman Fielder directors support revised takeover bid
May 19, 2014

Goodman Fielder is recommending its shareholders accept a revised takeover bid Australian food manufacturer Goodman Fielder has recommended its shareholders accept a revised takeover proposal by a 50:50 joint venture between Hong Kong-based investment management and holding company First Pacific Company Limited (First Pacific) and leading Asian agribusiness group Wilmar International Limited (Wilmar). First Pacific and Wilmar have announced that they are proceeding with due diligence following a... ...Read more »

Goodman Fielder takeover proposal ‘undervalues’ company
April 28, 2014

Goodman Fielder has rejected a takeover bid Food manufacturer Goodman Fielder has rejected a takeover proposal from agribusiness group Wilmar International Limited (Wilmar) and Hong Kong based investment company First Pacific Limited (First Pacific), saying that it undervalues Goodman Fielder and is “opportunistic”. The Company’s brands include Meadow Lea, Praise, White Wings, Pampas, Mighty Soft, Wonder White, Helga’s, Vogel’s (under license), Meadow Fresh and Irvines. First Pacific and... ...Read more »

Warrnambool surprises with $16 million profit increase for first half
March 3, 2014

WCB has reported a profit increase of $16 million Warrnambool Cheese and Butter (WCB) has announced a half year net statutory operating profit after tax of $31.3 million, an increase of $16 million or 104.7 per cent compared with the same period last year. Included in the statutory profit were material items totalling $5.2 million after tax. The material items after tax included $2.1 million of takeover defence costs associated with takeover bids received by WCB during the six months to 31 December... ...Read more »

Lion dairy business facing tough conditions, while Bega sees growth
February 24, 2014

Australian-based dairy businesses have coped differently with 'difficult' market conditions Food and beverage company Lion has announced its Dairy and Drinks business experienced “significant margin pressure” in the 2013 year, while dairy business Bega Cheese has reported a positive start to the 2014 financial year, showing growth in its half yearly results. Bega’s ‘strong business model’ sees growth in difficult trading environment New South Wales based dairy company Bega Cheese... ...Read more »

Australian chocolatier acquired by UK investment company
February 19, 2014

Hillier's Chocolates has been sold to the Australian arm of a UK investment firm Australia’s oldest chocolatier, Ernest Hillier Pty Ltd (Ernest Hillier), has been acquired by Re:Capital, the Australian arm of UK investment company Hilco Capital. The sale comes as the former owners of Ernest Hillier’s, the Piedimonte family, which owns a chain of supermarkets in Melbourne, focus on other business interests. Ernest Hillier was founded in 1914 and operates under the Hillier’s Chocolates and... ...Read more »

Gloria Jean’s to shift to franchise-only business model
February 19, 2014

Gloria Jean's will shift to a franchise-only business model Coffee store group Gloria Jean’s Coffees (Gloria Jean’s) will shift to a franchise-only business model, which will see up to 25 of its 400 Australian outlets could close or become franchise operations by the end of March 2014. The change in business model comes after Gloria Jean’s was acquired by Singapore-based company Global Yellow Pages (GYP) in December 2013. At the time of the takeover, GYP said it believed there was significant... ...Read more »

Another major Australian milk supplier gets snapped up
February 5, 2014

Another major Australian milk supplier gets snapped up The sale of privately-owned dairy giant United Dairy Power to Hong Kong businessman William Hui is locked in, according to Stock & Land. It was reportedly sold for around $70 million. The paper reports Hui is the chairman and major shareholder of Swing Media Technology. United Dairy Power processes milk, butter and cheese and operates from South Australia and Victoria. Owner Tony Esposito has reportedly been seeking a buyer for two years. United... ...Read more »

Black Swan dips business for sale
January 28, 2014

The Black Swan dips brand is for sale One of Australia’s largest dips brands, Black Swan, is for sale, seven months after it was placed into receivership. The receiver, finance and risk management consultants Deloitte, said the sale is not related to the financial position of the business, and that Black Swan has a “demonstrated track record of profitability and top-line growth”. Deloitte said the brand saw sales of over 20 million containers of dip in Australia each year. Deloitte has placed... ...Read more »

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