Goodman Fielder dips into Adelaide

Goodman Fielder has entered into an agreement to buy the assets of the Australian food business Copperpot.

Copperpot produces and markets a range of dips, yoghurt and cheese for Australian and overseas markets under brands which include Copperpot, Attiki and Palmyra.

The business employs around 130 people and has its headquarters in Adelaide. It is privately owned by Ray Khabbaz and Michael Demetriou.

The acquisition price was not disclosed.

Goodman Fielder chief executive Peter Margin said the acquisition complemented his company's spreads business and provided it with a leading position in a rapidly growing health and convenience category.

"It also gives us an entry point into the Australian dairy market. It creates the opportunity to leverage our strong presence in the New Zealand dairy market and take the first steps in developing a trans-Tasman dairy business."

- NZPA