• The sale of Freedom Foods Group’s Cereals and Snacks business to The Arnott’s group has been completed. The sale was announced in December, just weeks after reporting on its “deeply disappointing” FY20 $175 million loss.
    The sale of Freedom Foods Group’s Cereals and Snacks business to The Arnott’s group has been completed. The sale was announced in December, just weeks after reporting on its “deeply disappointing” FY20 $175 million loss.
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Freedom Foods Group has extended its voluntary suspension from trading to 30 November. The company extended its suspension to 30 October on 9 July when the scale of its inventory write-downs and bad debts were being realised.

Since then Michael Perich - the Perich family own 54 per cent of the business - has been installed as interim CEO and lender support secured from HSBC, NAB and Arrovest as the board undertakes a recapitalisation plan.

It’s also now being sued for US$16 million by US almond growers’ group Blue Diamond Growers in the US.

 

 

Packaging News

The VMA, in partnership with APIA and the industry-led Labels & Packaging Coalition, has submitted a proposal to the Federal Government addressing key packaging regulation reforms.

A new online platform, ARL Marketplace, has launched to coincide with National Recycling Week, aimed at assisting small and medium-sized enterprises (SMEs) in helping their customers recycle correctly.

MasterFoods is trialling Australia's first paper-recyclable single-serve tomato sauce packs, reducing plastic by 58 per cent compared to its original packaging.