Food group Burns Philp has given further indication that it is currently evaluating the future of its snack food business, announcing that it has appointed Deutsche Bank in an advisory capacity.
The firm said it had “appointed Deutsche Bank to advise it on its strategic options with respect to the snacks business.”
This comes just one month after the AUS$2.1bln (US$1.58bln) float of its bakery and spreads division, now newly listed as Goodman Fielder.
Burns Philp also sold its yeast and bakery ingredients group and herbs and spices business to Associated British Foods in September 2004.
A possible sale or float now looms for the snack food division, which is 54% owned by Graeme Hart.
The snack foods business includes Uncle Tobys and Bluebird brands.
Following the sale, Burns Philp will have drawn itself back from the brink of collapse in 1996 and reinvented itself as an investment firm, although it did retain a 20% stake in Goodman Fielder.