• MILKLAB is a rare good news story for Freedom Foods Group in 2020, with sales growing 73% and a new contract signed with McCafe for its almond milk variety. Overall export sales to Southeast Asian markets rose 261 per cent to $34 million, showing an increased market acceptance of Australia’s Own and MILKLAB dairy brands.
    MILKLAB is a rare good news story for Freedom Foods Group in 2020, with sales growing 73% and a new contract signed with McCafe for its almond milk variety. Overall export sales to Southeast Asian markets rose 261 per cent to $34 million, showing an increased market acceptance of Australia’s Own and MILKLAB dairy brands.
  • Freedom Foods Group's launched its personalised nutritional brand Vital Life in 2020. Immune Shot combines manuka honey, lactoferrin and vitamin C.
    Freedom Foods Group's launched its personalised nutritional brand Vital Life in 2020. Immune Shot combines manuka honey, lactoferrin and vitamin C.
  • 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.
  • Freedom Foods Group's Australia's Own brand was a rare highlight for the company in 2020. Dairy and Nutritionals revenue was up 37% to $362.9m; and Plant-based Beverages revenue rose 30% to $132.3m. Overall export sales to Southeast Asian markets rose 261 per cent to $34 million, showing an increased market acceptance of Australia’s Own and MILKLAB dairy brands.
    Freedom Foods Group's Australia's Own brand was a rare highlight for the company in 2020. Dairy and Nutritionals revenue was up 37% to $362.9m; and Plant-based Beverages revenue rose 30% to $132.3m. Overall export sales to Southeast Asian markets rose 261 per cent to $34 million, showing an increased market acceptance of Australia’s Own and MILKLAB dairy brands.
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Freedom Foods Group has told the ASX it has secured ongoing support from its principle lenders and majority shareholder, Arrovest. This will ensure it has access to financial facilities as it undertakes a planned recapitalisation, it said.

The 11 September announcement said the company had agreed to a Standstill Deed with its two main lenders, HSBC and National Australia Bank (NAB), which is effective until 30 November. It is subject to FFG meeting certain milestones relating to the progress of the recapitalisation plan.

A guarantee from an entity related to Arrovest means HSBC and NAB will keep certain liquidity facilities available to the group during the standstill period.

FFG interim CEO Michael Perich said they were grateful for the ongoing financial support.

“These agreements provide us with the financial support and flexibility we need to ensure the business continues to perform at its best while we pursue recapitalisation options,” Perich said.

Moelis Australia is advising FFG on its strategic options.

The company remains in voluntary suspension until 30 October.

 

Packaging News

PKN’s July-August issue is another bumper edition showcasing sustainability and innovation in Snacks & Convenience, Flexible Packaging, Digital Printing and Smart Factories, and featuring the gold winners in this year's prestigious Packaging Innovation & Design Awards (PIDA).

Amcor Flexibles has partnered with compostable packaging producer, TIPA, to bring its compostable packaging technology to Australia and New Zealand.

As part of its ambition to be Australia’s most sustainable supermarket, Coles Group has launched a national campaign that brings to life and celebrates its recently launched Sustainability Strategy.