Australia’s largest food manufacturer Goodman Fielder has indicated that it is looking to East Asia for acquisitions in the next four or five years, while in the shorter term it is considering Australian bolt-on acquisitions.

Peter Margin, Goodman Fielder chief executive, said that in the short term priority in Asia was low, according to the Australian Associated Press.

Margin said that the company could spend AUS$400m on acquisitions without having to raise funds. “At the moment we’ve got headroom within our debt facility to look at acquisitions cumulatively up to about $400m, without having to go back to the market,” he said.

The food company is reportedly expanding in areas such as bread, muffins and bakery products.