Goodman Fielder sells Southland subsidiary

GMF says it has entered into a deal to sell its subsidiary, Goodman Fielder International Southland, to Invercargill Trading Limited. The subsidiary produces frozen and chilled foods, mainly for export to Japan.

New Zealand MD, Ron Vela, says the sale of the production facility of non-retail branded products is in line with the company's strategic action plan to focus on its strong retail branded products.

"The divestment of its Southland operation is consistent with Goodman Fielder's strategy of selling non-core businesses to simplify and streamline the business to improve returns to shareholders.

"Representatives of Invercargill Trading have extensive experience in the New Zealand food industry with strong connections across various export markets."

Mr Vela says Invercargill Trading wants to expand the site's operations and is firmly committed to growing Southland's export sales, which should provide growth opportunities for the area.

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