18 September 2023
18 September 2023
The countries said the ban needs to be maintained to protect their farmers from bulk imports.
The US-based frozen potato products supplier also closed deals in Australian in 2019 and 2018.
Prime Minister Justin Trudeau has warned of potential tax penalties.
The new offer of A$3.20 ($2.06) a share, compares to an initial bid of A$3.50.
The company has already secured GBP1m ($1.4m) of investment towards this round.
The deal is the “largest financial transaction in the seafood sector since the Treaty of Waitangi fisheries settlement”, according to Sealord.
Superior Foods International also supplies the South American market, along with Asia and Europe.
Bimbo has four facilities in Argentina, three in Buenos Aires and one in Cordoba province.
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Per GlobalData estimates, the Eastern European food industry was valued at $180.5 billion in 2022 and is projected to grow at a CAGR of >4% by 2027. The top five companies together account for a value share of just 5.3% in 2022, with Mondelēz leading the pack. The Czech Republic, Poland, Romania, and Hungary were identified as high-potential countries, primarily due to the large size of their food industries, their high projected value growth rates, and their rising per capita expenditure.
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