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Australian food group Goodman Fielder has insisted NPD and increased marketing spend will boost sales from its baking business, its largest division, after it came under pressure in recent months.
Australian food manufacturer Goodman Fielder has said it is "confident" it can turn around its baking division following another "disappointing" year for the unit.
In describing Australia as an "inhospitable" market, Heinz expressed what many suppliers feel but fear to say. But it's an awkward truth, Ben Cooper writes. The last thing the Australian food industry wants is international investors viewing it as a hostile market.
The chief executive of The Co-operative Group last week highlighted the economic headwinds hitting the UK retail sector, while, in the US, Hurricane Irene added to the metaphorical storms.
Australia-based food group Goodman Fielder has announced a shake-up of its baking business across the country, which is expected to lead to more than 200 redundancies.
Goodman Fielder, the Australia-based food group, is to shut a bakery in its domestic market, moving production to plants in the cities of Canberra and Sydney.
Goodman Fielder has announced the appointment of a new CEO following the resignation of Chris Delaney.
Wilmar International, the agribusiness giant set to buy Australia's Goodman Fielder, has booked lower sales but higher profits from its existing consumer business in 2014.
Australian bakery-to-dairy group Goodman Fielder has reported flat first-half profits after lower dairy and wheat costs were offset by falling prices.
Wilmar International, the agribusiness giant set to buy Australia's Goodman Fielder, has booked lower sales but higher profits from its existing consumer business in the first nine months of the year.
Impairment and restructuring charges have pushed Goodman Fielder to an annual loss of A$405m - but the Australia-based food group also saw commodity costs hit underlying profits.
Goodman Fielder's board has recommended shareholders accept a reduced takeover offer from Wilmar International and First Pacific.
Goodman Fielder is increasing its production capacity of UHT milk as it eyes expansion opportunities in the Asia Pacific region.
The week kicked off with a significant deal in the US food industry, with Hillshire Brands striking a deal to buy Pinnacle Foods. In Australia, Goodman Fielder ended the week with an announcement its board had decided to give its support to a takeover offer from Singapore agribusiness giant Wilmar International and First Pacific, the Hong Kong investment fund.
This week we returned from Vietnam after exploring the country's dairy sector. Russia hit the headlines once again as its EU pork ban weighed heavy on Danish Crown's list of woes, and its ongoing battle with Ukrainian confectioner over seized assets continued. Win-wise, Wilmar celebrated after a revised takeover bid for Goodman Fielder was accepted and elsewhere Bon-Bon Buddies secured a UK distribution deal with Italian confectioner Zaini. Here is the week in quotes.
The board of Australian food group Goodman Fielder today (16 May) gave its support to the latest takeover offer from Singapore agribusiness Wilmar International and First Pacific, the Hong Kong investment fund.
Singapore agribusiness giant Wilmar International today (15 May) confirmed it and bid partner First Pacific, the Hong Kong investment fund, have lifted their bid for Australian food group Goodman Fielder.
Goodman Fielder, the Australian food group, today (15 May) requested trading in its shares be halted as it considers an offer for the business.
Singapore agribusiness giant Wilmar International has said it will try to hold talks with the Goodman Fielder board about its interest in buying the business after the Australian food manufacturer brushed off a A$1.27bn bid.
Australia-based food group Goodman Fielder has rejected a takeover bid from Singapore agribusiness giant Wilmar International - a shareholder in the business - and Hong Kong investment firm First Pacific.
Unilever's business in South Africa was in the spotlight this week after it emerged its offices were raided as part of a probe into collusion. Elsewhere, there were two notable M&A deals in dairy, with Arla Foods looking to merge with Belgium-based EGM Walhorn and Lactalis's Parmalat bolstering its business in Australia with the acquisition of Harvey Fresh.
This week, Tesco CFO Laurie McIlwee ended weeks of speculation over his future after handing in his resignation. Elsewhere, Kellogg was one of the three manufacturers linked to the rumoured sale of Dorset Cereals and Arla announced a proposed merger with EGM Walhorn.
Shares in Australian food firm Goodman Fielder plunged 22% today after the bread-to-dairy manufacturer announced it would not meet profit expectations for its 2014 financial year.
Goodman Fielder has said improved profitability in its core business has been offset by "challenging business conditions" and costs associated with the Australian food group's turnaround programme.
Goodman Fielder has said it will attempt to minimise the job losses stemming from the sale of its New Zealand meat unit to sausage and bacon supplier Hellers.
Goodman Fielder will press ahead with the sale of its New Zealand meat arm to sausage and bacon supplier Hellers, union officials have said, after the Australian group rejected a rival offer for the business.
The proposed sale of Goodman Fielder's New Zealand meat business to sausage and bacon supplier Hellers has attracted criticism over plans to close one of the unit's processing facilities.
Australian food group Goodman Fielder is to sell its biscuit business to local peer Green's Food Holdings.
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