Food manufacturer Goodman Fielder has sold its meats business in New Zealand to Hellers Limited.
The proposed divestment was first announced in January, with Goodman Fielder today confirming the sale has been completed.
According to a statement issued by Goodman Fielder, the sale is part of the company’s strategy to “optimise its portfolio by refocusing its marketing and capital expenditure on its core categories and brands where it has profitable, market leading positions.”
“The proposal to sell also reflects the very difficult trading environment and market conditions which have existed for the Meats business for some time. We explored a number of alternative possibilities; however, none of these were viable which has led to this decision,” CEO Chris Delaney said earlier this year.