Friday 22nd June 2018
|Text too small?|
Goodman Fielder New Zealand, which owns a number of dairy brands including Meadow Fresh and Puhoi Valley, wants to buy the rights to make and sell Yoplait branded yoghurt in New Zealand.
In a statement, the Commerce Commission said it had received a clearance application from Goodman Fielder, the food manufacturer owned by Singapore-based Wilmar International and Hong Kong-listed investment firm First Pacific Co, to buy assets related to the manufacture and distribution of Yoplait in New Zealand from Lion - Dairy & Drinks (NZ). Lion, which is owned by Japan's Kirin Holdings, currently has a licence from French company Sodima to use the Yoplait brand in New Zealand.
As well as acquiring manufacturing and distribution assets from Lion, Goodman Fielder intends to obtain a licence from Sodima so it would be the exclusive supplier of Yoplait yoghurt in New Zealand, the Commerce Commission said.
Goodman Fielder, which delisted in March 2015 following the takeover by Wilmar and First Pacific, produces a range of dairy, bread, and grocery items under brands including Vogels, Molenberg, Freya's, Quality Bakers, Edmonds, Chesdale and Ernest Adams. Its existing yoghurt brands in New Zealand include Activate Probiotic, Naturalea and Kalo. Its financial statements for calendar 2017 show revenue was $953 million, generating a $52 million profit.
The regulator's decision is due by Aug. 17, according to its website.
No comments yet
MARKET CLOSE: NZ shares rise as optimism over US-China trade deal lingers; Fletcher gains
NZD under pressure against Aussie as investors cheered by easing of trade jitters
PFI properties’ valuation rises 5.5% to $1.32 billion
Broader definition of workplace harm in new govt health & safety strategy
MBIE officials grilled on terms of Westland Milk loan
Trade Me suitor Hellman & Friedman drops out
Hydrogen not a short-term option for Huntly - Genesis
Kiwibank says customers have a dwindling need of physical branches
Buying off the plans driving down KiwiBuild cost to govt: HYEFU
Fiscal policy to slow growth over next five years, despite surpluses