Cargill recently announced that it has entered into an agreement to purchase Goodman Fielder's Commercial Edible Fats and Oils business.The A$ 240 million purchase includes the Commercial business' four fats and oils refining assets located in West Footscray in Melbourne, Murarrie in Brisbane, Bunbury near Perth and East Tamaki in Auckland, New Zealand. Goodman Fielder will retain the title to the land at the Brisbane facility that is subject to an extended lease back to Cargill.The sale also involves a long-term supply agreement under which Cargill will supply refined fats and oils products to Goodman Fielder. The purchase is subject to a number of conditions, including approval from the Australian Competition and Consumer Commission (ACCC).
