Australian food group Goodman Fielder is to buy local biscuit maker Paradise Food Industries from private equity group Archer Capital.
Go deeper with GlobalData
The A$78.8m (US$73.3m) acquisition of the Brisbane-based firm, which is expected to become final in the next two weeks, will push Goodman into second position in the Australian biscuit market.
“This acquisition gives the company an entry into the Australian biscuit market which is valued at more than AUS$1bn,” said managing director of Goodman Fielder, Peter Margin. “It will provide a platform for further growth in Australia and is a potential vehicle for entry into the biscuit market in the broader Pacific region.”
Paradise generates annual revenue of A$130m and will form part of Goodman’s home ingredients division.
The transaction costs are expected to be funded from existing facilities.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
