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| − | The Australian operations, which include Manassen Foods, fruit exporter Mildura Fruit Company, and Western Australia cheese and yoghurt maker Mundella, are a central part of a future public listing in Hong Kong, with the group having already tested the appetite of potential IPO investors.
| + | 1) Comments must be contained to the topic of the articles only. Comments that stray from the direct subject of <a href=http://www. buycelinebags.com> Celine Bags Outlet Store</a> the article will be deleted. |
| − | But the timing of an IPO of the Asia-Pacific food assets is still being decided and the group wants to grow to more than twice its current size before <a href=http://www. saclouisvuittonhomme.com /milticolor-monogramme-ceinture-25> Milticolor monogramme ceinture</a> hitting the button on an IPO intended to fund even more acquisitions. | + | 2) Readers are free to comment on and debate other readers' comments, but comments must specifically address the issue(s) raised. Comments containing personal insults directed toward another reader in any form will be deleted. |
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| − | Trying to snap up Treasury Wine Estates, the owner of the Penfolds brand, is not on the radar.
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| − | Bright Food Group Holdings chief financial officer and director Wayne McIntosh said on Tuesday that while Bright Food had looked from afar at Treasury in the past, it was not interested in joining a bidding war.
| + | 5) Comments that are potentially libelous, including those that contain accusations not supported by facts, will be deleted. |
| − | We re not actively interested in Treasury, he said from his Sydney office.
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| − | Everything we do in Australia comes through this office and we re certainly not engaged in that, he said.
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| − | The main priority for Bright Food as it heads toward a Hong Kong IPO for the Asia-Pacific food operations is buying premium food service businesses in Singapore, Hong Kong and China and to acquire more fast-moving consumer goods distribution operations in China, from which it can sell more of the sought-after food products being made by its Australian businesses.
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| − | Mr McIntosh said Bright Food Group Holdings had net annual revenues of a little more than $600 million and wanted to head towards $1.5 billion.
| + | Thank you, and we hope you enjoy interacting with us and the community. |
| − | Where we are now, we re probably only around half way, he said.
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| − | The company had considered listing on the Australian Securities Exchange, but the Hong Kong plan was a better strategic option.
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| − | The Australian and New Zealand operations of Bright Food would form a large part of the <a href=http://www. saclouisvuittonhomme.com /trunks-et-sacs-damier-ceinture-28> Trunks et sacs Damier ceinture</a> business that would be listed on the Hong Kong stock exchange, and this had been recognised by potential investors in Asia. | + | |
| − | Those businesses were performing solidly in a tough food market. Bright Foods has undertaken pre-IPO roadshows in Singapore and Hong Kong to test the appetite from investors. Manassen s Australian retail operations had over-delivered against budged by around $3 million in earnings before interest, tax and amortisation in calendar 2013.
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| − | The local operations are performing well in a challenging market, Mr McIntosh said.
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| − | The business had been able to implement price increases in the second half of calendar 2013 which were able to mitigate the impact of the high Australian dollar.
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| − | The company will also look for other acquisitions where it is able to derive synergies with its existing portfolio of businesses, and has set a target of 10 per cent incremental <a href=http://www. saclouisvuittonhomme.com /chaussures-louis-vuitton-33> Chaussures Louis Vuitton</a> EBITDA for any purchases it makes. | + | |
| − | The Mildura Fruit Company is one of Australia s largest exporters of citrus fruits and sources its produce from around 150 growers in the Sunraysia region.
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| − | Manassen, of which Bright Food owns 75 per cent, has a range of bakery, grocery, biscuit and confectionery brands in its food portfolio including Holland House, Ryvita, Coffex coffee, Tilda and Trident.
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| − | Bright also struck a $40 million deal three months ago with Pactum Dairy Group, owned by Freedom Foods, for the supply of long-life dairy milk.
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