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
Not much joy in Fellet's Sky TV swansong
Ebos says underlying net profit boosted by animal care segment
KiwiRail operating earnings start to improve as Picton-Christchurch rail link reopens
Spark 1H profit dips 5.6% as Southern Cross withholds dividend
Power panel favours scrapping low-fixed charges, prompt payment discounts
February 20th Morning Report
FIRST CUT: Fletcher betters first-half guidance with 8% ebit drop
Meridian posts record 1H operating earnings, raises dividend
FIRST CUT: A2 more than doubles 1H net profit
NZD lifts as US-China return to negotiating table, US seeking stable yuan