SYDNEY — Goodman Fielder, Australia’s largest food company, confirmed Friday it is in talks with a number of parties over the sale of its global ingredients business, which consists of the Leiner Davis gelatin business and the Germantown dairy ingredients operation.
Goodman Fielder told the Australian Stock Exchange no final decisions have been made, but it is expected that Germany’s DGF Stoess AG is interested in the taking on Leiner Davis for A$300 million. DGF Stoess looks to be the most likely candidate to buy the Goodman Fielder business as it is the world’s largest manufacturer of gelatin. In 1998, DGF Stoess bought Goodman Fielder’s 50% stake in its U.S. ingredients business Dynagel Inc. for about A$30 million.
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The sale of Leiner Davis and Germantown had been expected after Goodman Fielder offloaded the profitable part of its ingredients unit – Starch Australasia.
