No comment from Goodman Fielder over gelatin sell-off speculation

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Related tags: Sales

Australia's largest food company Goodman Fielder refused to comment
on Tuesday morning about speculation that the group was in
negotiations to sell its...

Australia's largest food company Goodman Fielder refused to comment on Tuesday morning about speculation that the group was in negotiations to sell its $300 million gelatin business, IndustrySearch.com reports. A report in The Australian Financial Review Tuesday said the company was set to divest the asset within four weeks ahead of the delivery of a strategic review and the release of the company's first half year results. The report said market speculation centered on Danone, SKW Trostberg, and Hercules Inc as possible buyers. The newspaper reported that sales for the company's starch and gelatin operations in the year to June 30 fell three per cent to $398.2 million, while earnings before interest and tax dropped 31.6 per cent to $23.8 million. A company spokesperson said the sales figures were incorrect. "The trends in the sales are accurate," she said.

Related topics: Market Trends

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