Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 17, 2018

Goodman Fielder co-shareholder ‘mulling exit’

First Pacific, the Hong Kong investment fund, is reportedly looking to sell its 50% in Australia-based food manufacturer Goodman Fielder.

First Pacific, the Hong Kong investment fund, is reportedly looking to sell its 50% in Australia-based food manufacturer Goodman Fielder.

The Australian Financial Review said yesterday (16 September) First Pacific had started to look at offloading its shares in the Helga’s bread maker after getting interest from trade and private-equity suitors.

Wilmar International, the Singapore-based agri-food group that bought Goodman Fielder alongside First Pacific in 2015 – is understood to want to keep its stake, the newspaper said.

Citing unnamed sources, The Australian Financial Review said First Pacific had not appointed advisers.

First Pacific and Wilmar paid AUD1.3bn (US$934.2m) for Goodman Fielder, which also owns brands including Meadow Fresh milk and Praise mayonnaise, in 2015.

When the listed First Pacific announced its first-half results last month, it said FPW, the venture that controls Goodman Fielder, saw its profits increase 56% to US$10.3m after asset disposals and organic growth in certain markets.

Content from our partners
GMP: The food sector’s golden rules (and how they will evolve)
Cutting-edge innovation in fish packaging
Food fraud in the supply chain (and how to fix it)

Outside Australia, notable markets for Goodman Fielder include New Zealand – where it has 11 plants – as well as Fiji, Papua New Guinea and Indonesia.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU