December 11, 2009
Cargill acquires edible fats and oils operations of Goodman Fielder
Press release
Cargill announced that it has entered into an agreement to purchase Goodman Fielder's Commercial Edible Fats and Oils business.
The A$240 million (US$220 million) purchase includes 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. Goodman Fielder retains the title to the land at the Brisbane facility that is subject to an extended lease back to Cargill.
"The operation's refining footprint complements our existing state-of-the art edible oil refinery in Newcastle near Sydney. This acquisition will provide Cargill with national Australian and New Zealand manufacturing and supply capabilities, which will enable us to better serve our customers." said Bram Klaeijsen, president and regional director, Cargill Asia-Pacific.
The sale also involves a long-term supply agreement under which Cargill will supply refined fats and oils products to Goodman Fielder. Cargill's portfolio of food ingredients, applications expertise and processing capabilities complements the commercial fats and oils business.
The purchase is subject to a number of conditions, including approval from the Australian Competition and Consumer Commission (ACCC).
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 159,000 people in 68 countries.
