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Cooks Foods buys pasta, vinegar units from Goodman Fielder

Tuesday 16th December 2008

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Cooks Food Group Ltd., which listed its shares on the NZAX market in October, agreed to buy the Diamond Pasta and DYC vinegar businesses from Goodman Fielder for $12 million.

The company said investors holding more than 80% the stock support the deal, meaning a shareholder vote will be a formality.

Cooks will fund the acquisition through a mixture of debt and new equity, according to a statement from chairman Keith Jackson.

The stock last traded on Nov. 18 at 30 cents, giving the company a market value of $6.6 million.


By Jonathan Underhill

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