Australian food giant Goodman Fielder plans to sell its Invercargill food ingredients export business to an Australian-owned company, writes the New Zealand Herald this week.
The multi-million dollar business makes frozen and chilled pastry, sauces and pre-mixes, mainly for export to Japan. It is the largest business of its type in New Zealand and Australia. Founded as a bakery more than 100 years ago since the 1980s it has been run by Quality Bakers and then Goodman Fielder. The new owners will be Invercargill Trading, which was registered as a company in New Zealand only last week.
According to the newspaper, Goodman Fielder NZ managing director Ron Vela said the new owners had extensive experience in the New Zealand food industry and had strong connections across various export markets.
Terms of the agreement were not disclosed.
GoodMan Fielder is currently facing a US Federal Trade Commission challenge over its attempt to sell its Leiner Davis gelatin business to DGF Stoess.