Goodman Fielder sells biscuit unit to Green’s for net A$17M, takes charge up to A$55M

Sun, 22 Dec 2013

Dec. 23 (BusinessDesk) - Goodman Fielder, the biggest food company in Australia and New Zealand, agreed to sell its Biscuits unit to Green’s Food Holdings for about A$17 million and will take an impairment of more than three times that amount against the business. The sale is part of the Sydney-based company’s ongoing strategy to focus on profitable, market-leading categories and brands which has allowed it to return to profit and reduce debt. It will record a non-cash impairment charge of A$50 million to A$55 million against the biscuits bus...

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