Cooks Foods buys pasta, vinegar units
Cooks Foods buys pasta, vinegar units from Goodman Fielder
Dec. 16 - Cooks Food Group Ltd., which listed its shares on the NZAX market in October, agreed to buy the Diamond Pasta and DYC vinegar businesses from Goodman Fielder for NZ$12 million.
The company said investors holding more than 80% the stock support the deal, meaning a shareholder vote will be a formality.
Cooks will fund the acquisition through a mixture of debt and new equity, according to a statement from chairman Keith Jackson.
The stock last traded on Nov. 18 at 30 cents, giving the company a market value of NZ$6.6 million.