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Cooks Food To Buy Pasta And Vinegar Brands

Fuseworks Media
Fuseworks Media

Wellington, Dec 15 NZPA - Cooks Food Group Ltd said it has agreed to buy Goodman Fielder's Diamond Pasta and Meal solutions business and DYC vinegar business for an undisclosed sum.

The deal is subject to shareholder approval but Cooks 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 in October 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.

Most of Cooks' products fitted in to the segments of chilled vegetarian foods, salad dressings and mayonnaise, Asian sauces, and chutneys, pickles and relishes.

The transactions carried out to establish Cooks were based on a combined entity value of $5.5 million.

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