George Weston Foods is to acquire one of Australian meat and smallgoods firm KR Castlemaine.

The acquisition of KR Castlemaine will be subject to regulatory approvals but will put GWF in a good position to compete in the fresh pork and small goods markets.

GWF chief executive Geoff Starr said: "The acquisition will deliver a strong future for the businesses, to the benefit of our employees, our customers and consumers. It will provide an opportunity to leverage existing business capabilities to enable greater focus on product innovation and drive efficiencies."

George Weston Foods is one of Australia's largest food manufacturers with a portfolio of brands including Ryvita, Burgen, Crackerbread, Chapmans and Huttons.

The company's principal operations are undertaken throughout Australia and New Zealand with joint ventures in the US and Thailand.