FOOD INDUSTRY AND TRADE – AUSTRALIA

Coca-Cola Amatil appoints Woolies exec as CFO

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 26-Mar-15

Australian-listed Coca-Cola Amatil (CCA) has advised that Martyn Roberts will replace Nessa O’Sullivan as CFO later in 2015. Roberts has held several executive positions at Woolworths during his seven-year tenure at the retailer, and has previously worked for companies such as Louis Vuitton and Apparel Group. There have been a number of management changes at CCA under current CEO Alison Watkins

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, WOOLWORTHS LIMITED – ASX WOW, APPAREL GROUP PTY LTD, LOUIS VUITTON, THE COCA-COLA COMPANY, SPC ARDMONA LIMITED, RECKITT BENCKISER (AUSTRALIA) PTY LTD

Coca-Cola Amatil appoints Woolies exec as CFO

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 26-Mar-15

Australian-listed Coca-Cola Amatil (CCA) has advised that Martyn Roberts will replace Nessa O’Sullivan as CFO later in 2015. Roberts has held several executive positions at Woolworths during his seven-year tenure at the retailer, and has previously worked for companies such as Louis Vuitton and Apparel Group. There have been a number of management changes at CCA under current CEO Alison Watkins

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, WOOLWORTHS LIMITED – ASX WOW, APPAREL GROUP PTY LTD, LOUIS VUITTON, THE COCA-COLA COMPANY, SPC ARDMONA LIMITED, RECKITT BENCKISER (AUSTRALIA) PTY LTD

Goodman gets big tick

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Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 19 : 17-Feb-15

Goodman Fielder shareholders will vote on a proposed $A1.3bn takeover bid by Wilmar International and First Pacific on 26 February 2015. Australia’s Foreign Investment Review Board approved the deal in late 2014, and the Chinese Government gave the green light on 16 February. The offer of $A0.675 per share also requires approval in New Zealand. Hedge funds bought about 160 million of the target’s shares in early February, and stand to make a healthy profit from the transaction

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. MINISTRY OF COMMERCE, NEW ZEALAND. OVERSEAS INVESTMENT COMMISSION, ELLERSTON CAPITAL PTY LTD, DEUTSCHE BANK AG, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Simplot Australia hit by restructuring costs

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Original article by Simon Evans
The Australian Financial Review – Page: 15 : 16-Feb-15

Food group Simplot Australia posted an after-tax net profit of $A33.8m for the year to 30 August 2014, which is 26 per cent lower than previously. The result was marred by restructuring costs, which included redundancy payments totalling $A22.8m. MD Terry O’Brien says reducing costs was necessary for Simplot to remain competitive. The group’s sales revenue rose by 4.65 per cent to $A1.24bn

CORPORATES
SIMPLOT AUSTRALIA (HOLDINGS) PTY LTD, JR SIMPLOT AND COMPANY, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, WOOLWORTHS LIMITED – ASX WOW, AUSVEG LIMITED, HJ HEINZ COMPANY AUSTRALIA LIMITED, McCAIN FOODS (AUST) PTY LTD

Sanitarium ups and goes to UK market

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 30-Jan-15

Australian food company Sanitarium hopes to capitalise on growth opportunities in the British liquid breakfast market. The group will sell its Up&Go product in UK supermarkets via a joint venture company called Life Health Foods UK. Up&Go’s share of Australia’s liquid breakfast market exceeds 90 per cent, and Sanitarium aims to gain more than 60 per cent of the UK market. Up&Go will compete with the rival product of UK-based Weetabix

CORPORATES
SANITARIUM HEALTH FOOD COMPANY, WEETABIX LIMITED, LIFE HEALTH FOODS UK, WINGATE ASSET MANAGEMENT PTY LTD, BRIGHT FOOD GROUP COMPANY LIMITED, SEVENTH DAY ADVENTIST CHURCH, TESCO PLC, KELLOGG (AUSTRALIA) PTY LTD, NESTLE AUSTRALIA LIMITED

Chinese buyers eyeing food, dairy, says UBS

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Original article by Anthony Macdonald
The Australian Financial Review – Page: 11 & 18 : 14-Jan-15

David Chin of UBS expects Chinese companies to become more active in acquiring assets in Australia’s agribusiness sector. Chin notes that the issue of food security is becoming increasingly important in China, which is likely to prompt greater interest in Australia’s food and dairy products sectors, as well as rural properties. Chin also expects Chinese groups to be interested in the privatisation of Queensland and New South Wales electricity assets

CORPORATES
UBS AG, DEALOGIC (AUSTRALIA) PTY LTD, STATE GRID CORPORATION OF CHINA, UBS HOLDINGS PTY LTD, DEUTSCHE BANK AG

Leverage from two-tier wages

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Original article by Joanna Mather
The Australian Financial Review – Page: 14 : 17-Oct-14

The new enterprise agreements for warehouse staff at Coca-Cola Amatil and Woolworths provide for new employees to be paid lower wages than existing staff. The new agreement for staff at Woolworths’ distribution facility in Brisbane includes a four per cent pay rise for current employees, higher annual leave loadings and an increase in loadings for shift workers

CORPORATES
COCA-COLA AMATIL LIMITED – ASX CCL, WOOLWORTHS LIMITED – ASX WOW, HOLDING REDLICH, AUSTRALIAN DEFENCE FORCE

Darrell Lea’s sugar rush

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 21 : 24-Sep-14

VIP Petfoods GM Rex Devantier says the Darrell Lea confectionery business is now cash-flow positive and trading on a double-digit multiple. VIP Petfoods bought the company from administrators in 2012, and it has since slashed Darrell Lea’s staff numbers and secured deals to distribute its products via supermarket chains. Devantier notes that Darrell Lea has also launched a range of new products

CORPORATES
DARRELL LEA CHOCOLATE SHOPS PTY LTD, VIP PET FOODS

When it comes to the crunch, Freedom Foods plans to evolve

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Original article by Jared Lynch
The Age – Page: 25 : 15-Sep-14

Australian-listed Freedom Foods is facing growing competition in the market for allergen-free food products. Freedom’s food technologist David Kokke says the group intends to keep improving the taste and nutritional value of its product range, and stresses the importance of innovation and brand reinvention. The company’s shares have risen by 300 per cent in the last two years

CORPORATES
FREEDOM FOODS GROUP LIMITED – ASX FNP, NESTLE AUSTRALIA LIMITED, SANITARIUM HEALTH FOOD COMPANY, BRIGHT FOOD GROUP COMPANY LIMITED, PACTUM DAIRY GROUP PTY LTD, ROY MORGAN RESEARCH LIMITED

Goodman loss unlikely to derail Wilmar bid

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Original article by Blair Speedy
The Australian – Page: 19 : 14-Aug-14

Goodman Fielder has announced a 2013-14 full-year loss of $A405m, due to provisioning worth $A358m in the baked products and grocery units that brings the total writedowns since 2010-11 to $A1.2bn. However experts do not see the result as likely to influence Singapore-based takeover suitor Wilmar and partner First Pacific, which are offering $A0.675 a share for the Australian-listed company. The initial bid had been $A0.65, and was sweetened to $A0.70 to gain access for due diligence before being cut back again. On 13 August 2014 the stock closed $A0.01 lower at $A0.63

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, DEUTSCHE BANK AG, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, FIRST PACIFIC COMPANY LIMITED