Cedenco Foods Australia has been placed in the hands of receivers but will remain in operation pending a sale of the business.
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Located in the town of Echuca, the company operates the largest tomato-processing factory in the southern hemisphere.
The company said “a breakdown in governance” and “ownership issues in the related New Zealand entity” – Cedenco Foods in New Zealand – has seen the secured creditor appoint receivers across the Cedenco Group.
The receivers, KordaMentha, said the company would operate as normal through the peak season early next year as a suitable buyer is sought.
Australian Food News is Australia’s leading resource for the food industry, delivering daily news from the grocery, retail and hospitality sectors to 40,000 professionals each month. http://www.ausfoodnews.com.au/
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