• 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 extends trading halt

By Kim Berry | 28 October 2020

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.

 

 

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