An independent report has suggested that New Zealand tomato paste manufacturer Cedenco Foods is worth more than the NZ$2.05-per-share (US$1.21) takeover bid by California-based SK Foods.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The report by Grant Samuel & Associates values Cedenco at between $2.14 and $2.74 per share, reported Dow Jones International News.


SK Foods announced in July that it had offered to buy the 41% of Cedenco that it does not already own. Cedenco said its directors are reviewing this latest report and are to meet this week to make a recommendation to shareholders.

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact