• 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 former CEO of Australian Packaging Covenant Organisation (APCO), Brooke Donnelly, has been appointed as general manager, Sustainability at Coles Group, and will start in the role on 3 October.

Digital flexibles packaging print producer ePac will build a second plant in Australia or New Zealand within 18 months, with the location yet be decided.

Orora’s Australian packaging operation delivered what the company said was a robust result for the financial year, with glass finding new markets, but it was in the US where the big growth took place.