Cedenco sold to Japan

Food ingredients manufacturer Cedenco Foods has been sold to Japanese food group Imanaka, subject to Overseas Investment Office approval, receivers said yesterday.

The business was being sold as a going concern, and Imanaka planned to continue operating Cedenco Foods in Gisborne and Hawkes Bay, receiver Brendon Gibson of KordaMentha said.

Cedenco is one of the country's biggest vegetable processors, and employs a large seasonal workforce.

- NZPA