Goodman Fielder to sell Integro unit for A$170M to GrainCorp consortium

Tue, 28 Aug 2012

By Paul McBeth Aug. 28 (BusinessDesk) - Goodman Fielder, the unprofitable food ingredients maker, will sell its Integro unit to a consortium made up of GrainCorp and Gardner Smith for A$170 million and will use the proceeds to pay down its debt. The sale doesn't include the out-of-home business in Australia or Goodman's Asia Pacific fats and oils business, and is expected to be completed in October, the Sydney-based company said in a statement. Goodman expects to book a A$25 million pretax profit on the sale. As part of the transaction, Good...

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