Wilmar International completed the acquisition of 50% stake in Goodman Fielder from First Pacific for $300m.

Wilmar International, an Asia’s agribusiness group, completed the acquisition of 50% stake in Goodman Fielder, a manufacturer, marketer and distributor of bread, small goods, dairy products, margarine, oil, dressings and various food ingredients, from First Pacific, a Hong Kong-based investment management and holding company, for $300m. “We have historically been focused on our core sectors in our core geography and this has brought us steady and strong investment returns. This asset sale frees us to focus on our strongest investments, which are just now beginning to deliver their 2018 full-year earnings reports. If what we have seen in our group’s results announcements so far is any indication of what the future holds, our prospects are bright,” Manuel V. Pangilinan, First Pacific Managing Director and CEO.