AUS: Buderim in talks with Agrimac
Australian ginger producer Buderim Ginger is holding merger talks with Australian Macadamia processor and marketer, Agrimac International Enterprises.
Buderim said the options under consideration ranged from a sales and distribution alliance through to an acquisition of assets by Buderim.
The company added that while no formal agreement had yet been finalised, both parties expected a deal to be finalised by the end of the year. Buderim expects to publish further details of any agreement during the coming weeks.
"Agrimac is the third largest processor of Australian Macadamias with processing operations based in Alstonville and with significant domestic and international sales and distribution," said Buderim chairman John Ruscoe.
Ruscoe said that both companies were "excited about the potential synergies between the two businesses".
Ruscoe also confirmed that Buderim's current operational performance remained in line with previously announced guidance.
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- UK own-label firm Park Cakes sold in MBO
- Kraft Heinz cuts jobs in US, Canada
- Immigration crackdown "risk" for US dairy industry
- Fonterra cuts earnings forecast
- Unilever invests in Dutch meat substitute project