Cargill to acquire Goodman Fielder unit
December 10, 2009
by Eric Schroeder
MELBOURNE, AUSTRALIA — Cargill has reached agreement to acquire the commercial edible fats and oils business of Goodman Fielder for A$240 million ($220 million). The transaction would include the commercial business’ four fats and oils refining assets located in West Footscray in Melbourne, Murarrie in Brisbane, Bunbury near Perth and East Tamaki in Auckland, New Zealand. "The operations refining footprint complements our existing state-of-the-art edible oil refinery in Newcastle near Sydney," said Bram Klaeijsen, president and regional director, Cargill Asia-Pacific. "This acquisition will provide Cargill with national Australian and New Zealand manufacturing and supply capabilities, which will enable us to better serve our customers." The transaction also would include a 10-year supply agreement under which Cargill would supply refined fats and oils products to Goodman Fielder.