Wilmar International has said it has yet to decide whether it will further increase its stake in Australian food manufacturer Goodman Fielder.
The agribusiness giant, which has upped its stake in the Freya’s bread and Meadow Fresh cream manufacturer from under 5% to 10.1%, told just-food “no decision” had been made on increasing its interest in the company.
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Wilmar’s stake building in Goodman Fielder buoyed the Australian firm’s shares today (28 February) and the stock closed up 33% as the market considered whether the Singapore-based group would take its interest further.
Goodman Fielder said it had not received a takeover bid from Wilmar or “any other party”. Wilmar said it was “too early to comment” on what it hoped to achieve from its investment. Asked why it had increased its stake, Wilmar said it has “always been open to new business opportunities” and added: “Goodman Fielder’s leading consumer brands in baking, dairy, home ingredients and edible oils across Australia, New Zealand and Asia Pacific are of interest to Wilmar.”
Commenting on Wilmar’s investment, Goodman Fielder, which is restructuring its business and considering offloading assets, said it had been in talks with its investor on “the possible divestment” of some of its non-core operations.
Wilmar confirmed to just-food that it was “studying” whether to buy Goodman Fielder’s foodservice supplier Integro Foods.
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