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Cooks Food Seeks Funding For Acquisition

Fuseworks Media
Fuseworks Media

Wellington, Jan 16 NZPA - Cooks Food Group Ltd is still looking for the money to pay for an acquisition it announced last month.

The company said in December it has agreed to buy Goodman Fielder's Diamond Pasta and Meal solutions business and DYC vinegar business for an undisclosed sum.

It said today the completion date on the deal has been extended to April 30 because it needed time to secure funding.

"Cooks is in discussions with a number of potential investors and will keep the market informed of progress with these discussions," the company said.

The deal is subject to shareholder approval but Cooks has said 75 percent of its shareholders had already indicated support for the acquisition.

An extraordinary meeting will be called to approve the purchase.

Cooks listed on the NZAX under a compliance listing carried out through Tasman Capital.

In its listing document, Cooks said it was formed to consolidate three stand alone businesses -- Cotterill and Rouse, Murdoch Foods, and Sahara Foods.

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