UPDATE: AUS: Goodman Fielder presses ahead with unit sale
Goodman Fielder said there was "strong interest" in the division even after the US agribusiness giant pulled out of the race for the asset.
A spokesperson said Goodman Fielder had prepared for Cargill to decide against a bid. Cargill had told just-food it had withdrawn its bid due to "concerns raised in the market". The decision is the latest twist in the potential sale of the Goodman Fielder unit. In May, Cargill made its second attempt to buy the business after regulators turned down an initial move two years ago.
"Goodman Fielder was always aware of this possibility and prepared a sales process to take account of such an outcome," a spokesperson said. "We have received strong interest from a number of parties and continue to progress the transaction."
The possible sale comes amid a wider restructuring of Goodman Fielder's business as it looks to grow profits after a year of falling earnings.
Commodity trader Glencore has said it wants to be a "true leader" in global grain trading after completing its acquisition of Viterra in a deal worth US$6bn....
Cargill has snapped up Indian cooking oil brand Sunflower from local FMCG group Wipro....
- How Hormel Foods can benefit from Justin's
- Colian hungry for international growth - interview
- How discounters unsettling Australia's food sector
- The balancing act at Amy's Kitchen - interview
- Tackling infant formula fraud in China
- US food labels to include "added sugars" info
- General Mills invests in another US SME
- ConAgra focusing on core with Spicetec sale
- Kraft Heinz to expand US plant
- Amy's Kitchen strikes Picard deal in four markets