07.03.08 - GOODMAN FIELDER ANNOUNCES ACQUISITION OF PARADISE FOODS

Goodman Fielder Limited announced today that it has entered into an agreement to acquire Paradise Food Industries from Archer Capital.

Paradise is a Brisbane-based manufacturer of biscuits and muesli bars. The acquisition will provide Goodman Fielder with any entry at the No. 2 position in the Australian biscuit market. Paradise brands include Cottage Cookies, Vive and Veri Deli and the business is also the largest supplier of supermarket house brand biscuits in Australia.

"This acquisition gives the company an entry into the Australian biscuit market which is valued at more than $1 billion," Goodman Fielder Managing Director Peter Margin said today.  "It will  provide a platform for further growth in Australia and is a potential vehicle for entry into the biscuit market in the broader Pacific region."

The Paradise business has an extensive local manufacturing capability and strong focus on product quality. It will form part of Goodman Fielder's Home Ingredients division.

03.07.06 - Archer acquires Paradise Foods: Biscuit producer to stay in Australia

Australia's second largest biscuit producer, Paradise Food Industries announced today they have been acquired by the Sydney based private equity investment firm Archer Capital for an undisclosed sum.

This acquisition will allow the Brisbane-based Paradise Foods' heritage of Australian owned and made to continue.

Paradise Foods was privately-owned for over 20 years and employs over 750 people nationally, with the majority of staff involved in manufacturing biscuits, muesli and cereal bars at its Carole Park factory. more>