AUSTRALIA: Goodman Fielder to sell Anchor Foods
Australia's largest food manufacturer, Goodman Fielder, is to sell its Anchor Foods subsidiary to a local businessman, David Clapin.
An Australian Stock Exchange statement said that the mixed foods business, based in Western Australia, was in line with Goodman Fielder's plans to simplify its business and focus on its retail branded products.
"Divestment of the Anchor Foods business is consistent with Goodman Fielder's strategy of selling non-core operations to simplify and streamline the business to improve returns to shareholders," managing director Robert Gordon said.
Anchor Foods produces a range of products for the retail, foodservice and commercial markets. These products include vinegar, birdseed, cordial, cooking aids, herbs and spices.
"The sale of the Western Australian-based business provides Anchor Foods employees with an opportunity to be part of a locally-based food company. Anchor Foods aims to leverage its existing brand heritage and expand and grow the business," Gordon continued.
The transaction was concluded for an undisclosed sum, and should be completed within about a month. It includes trademarks, inventories, land, processing and manufacturing facilities and warehouses based in Perth.
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