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 Cargill had told just-food it had withdrawn its bid due to "concerns raised in the market".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....
- Work on sugar could stir more clean-label concerns
- Are consumers getting tired of consuming?
- Rise of prepared foods in US grocers - analysis
- Hershey results, outlook, M&A - the top takeaways
- Free-from firm BFree Foods - bitesize interview
- Nestle, R&R Ice Cream finalise joint venture plans
- Hershey buys company behind BarkThins brand
- Fazer buys European biscuit brands from Mondelez
- Mondelez sees stronger margins, LFL growth
- Young's eyeing new channels, M&A