Page 63 - Food&Drink Nov-Dec 2020

SPC CEO Robert Giles said it was an important next step for the business, after resetting its strategy following its takeover from Coca-Cola Amatil.
“One of our important growth leads focused on how we can take our product to a global market. Our ingredients part of the business represents about 10 per cent of our current turnover, and we want to see how we can take that to a more global scale.”
BUDERIM GROUP SELLS GINGER BUSINESS
ASX listed Buderim Group received an $8.3 million offer for its ginger business from Global Foods Group as it set its sights on international expansion of its macadamia business.
Buderim’s ginger division assets include the Ginger Factory, a tourist attraction and production facility at Yadina, Queensland; the brands Buderim Ginger and The Ginger Factory; and subsidiaries Frespac Ginger in Fiji and Ginger Head Quarters.
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Cowan said: “Focusing investment in the company’s macadamia business is likely to produce higher returns than a comparable investment in the ginger division. Ginger’s future growth and pathway to improved returns lies therefore with an owner that can provide the investment to make it happen.”
In August, the group entered a binding agreement with the Queensland-based Himstedt Family to sell the ginger business for $13 million,
$5 million more than offered by Global Foods Group.
Creek Farm and Saint David Dairy, said it would seek shareholder approval to change its name to Maggie Beer Holdings at its annual general meeting.
During COVID-19 lockdown, Maggie Beer filmed and aired a series
of cooking shows on social media that generated more than 4.1 million views.
Maggie Beer, who is a non-executive director, said: “We have three unique and wonderful premium food businesses in our group and I am pleased that the Maggie Beer name can represent them all, as the group continues to grow and prosper.”
Almost 98 per cent of Longtable Group shareholders voted to change the company’s name to Maggie Beer Holdings at a 16 July shareholder meeting.
O-I ANZ SELLS TO VISY FOR ALMOST $1BN
Visy bought O-I ANZ for US$652m ($932m). One of the biggest manufacturing acquisitions by an Australian owned business in Australian business history, the deal was completed at the end of July.
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