The merger of Goodman Fielder’s brands, Uncle Tobys and Meadow Lea, and the separation of the milling division from retail baking are likely to take several months but the company expects it plans under its strategic review to take place before the 1 July deadline.
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The company has set up a series of steering committees, supplemented by the appointment of senior executives and management, to oversee each stage of the restructuring process. Goodman is considering a new business name for the Uncle Tobys and Meadow Lea merged division, while the separation of the milling business into a stand-alone cost-focused business will involve the unwinding of cross-subsidies.
The divestment of Goodman’s ingredients business is not likely to be completed until later this year. The company is awaiting regulatory approval in the US for the sale of the Leiner Davis gelatin business to DGF Stoess, while an information memorandum for the sale of the Germantown dairy ingredients business is currently being prepared.
