Wilmar Acquires 10.1% Interest in Goodman Fielder

This acquisition will make Wilmar the largest shareholder in Goodman Fielder. Wilmar is currently assessing whether to increase its shareholding in Goodman Fielder.

Feb 29 2012 --- Wilmar International Limited, announced that as at 7.00 am, it has acquired a 10.1% interest in Goodman Fielder, Australasia’s leading listed branded food company.

Goodman Fielder owns leading consumer brands in the baking, dairy, home ingredients and edible oils categories across Australia, New Zealand and Asia Pacific. All of these brands are complementary to Wilmar’s consumer pack business (which sells branded products to China, India, Indonesia, Vietnam and Bangladesh) and also Sucrogen’s branded sugar business in Australia. In addition, Goodman Fielder’s Integro business is complementary to Wilmar’s oil businesses.

This acquisition will make Wilmar the largest shareholder in Goodman Fielder. Wilmar is currently assessing whether to increase its shareholding in Goodman Fielder.

Wilmar’s Chairman and CEO, Mr Kuok Khoon Hong said: “We look forward to working with Goodman Fielder and its management team to improve Goodman Fielder’s performance over time”.

The cost of the 10.1% interest in Goodman Fielder is approximately A$115 million (US$124 million), which will be funded from internal funds.