Goodman Fielder sells Integro oils for $170m

Australasian food company Goodman Fielder said it had agreed to sell its Integro oils business for $170 million to a consortium comprising GrainCorp and Gardner Smith.
Nanjing Night Net

It said the sale did not include the out-of-home business in Australia, or Goodman Fielder’s Asia Pacific fats and oils business.

As part of the divestment Goodman Fielder will enter into a long-term partnership with GrainCorp for the supply of oil and finished goods.

Goodman Fielder, shares in which closed at 53.5 cents yesterday, said it would book a profit of around $25 million on the deal and significantly reduce its debt.

Reuters

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Posted by at 13/07/2018
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