Local and international interest in Menora Foods prompts strategic review
August 11, 2014

Local and international interest in Menora Foods prompts strategic review With the profile and potential of Australian food sector on the rise, leading FMCG company, Menora Foods, has received unsolicited approaches from third parties seeking to purchase the business. “We have appointed joint advisors, CIMB and Moelis to undertake a strategic review to consider the best options for the business including a 100 per cent trade sale,” said Sam Schachna, Managing Director Menora Foods. Established... ...Read more »

PZ Cussons acquires premium Australian food brand five:am
August 6, 2014

PZ Cussons acquires premium Australian food brand five:am PZ Cussons Australia and New Zealand, part of leading international consumer products group PZ Cussons Plc, has added to its growing food and nutrition category in the Asia Pacific region with the purchase of a leading Australian organic yoghurt brand, five:am. five:am has been one of the most successful entrants to the Australian food industry over the past decade. The business has strong retail partnerships across the country and the potential... ...Read more »

Treasury Wines receives revised takeover proposal
August 4, 2014

Treasury Wines receives revised takeover proposal The Board of Treasury Wine Estates Limited (TWE) has announced that it has received a revised, indicative, non-binding and conditional proposal to acquire all of the shares of TWE at a price of $5.20 cash per share on behalf of funds managed by global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) and private equity firm Rhône Capital L.L.C. (Rhône) by way of a scheme of arrangement. The revised proposal reflects an increase of $0.50... ...Read more »

SunRice to acquire Queensland-based Blue Ribbon Rice Group’s rice assets
July 30, 2014

SunRice enters into agreement to acquire Blue Ribbon Rice Group’s rice assets Australian rice company SunRice Group has announced it has entered into an agreement to acquire the rice milling assets of Blue Ribbon Rice Group (Blue Ribbon), which are located in Brandon in North Queensland’s Burdekin region. Blue Ribbon, which commenced operations in 2008, owns a single rice milling and packaging plant that last year produced 2,000 tonnes of processed rice. Although this volume represents less than... ...Read more »

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 »

Next Page »