Australia body not against joint bid for Goodman

WILMAR International said on Thursday that the Australian Competition and Consumer Commission (ACCC) would not oppose its joint acquisition with Hong Kong's First Pacific of Goodman Fielder, Australia's biggest food maker.

Prized for top-selling Australian products like Meadow Lea margarines, White Wings cake mixes and Gold'N Canola, Goodman Fielder is the largest supplier of canola, soybean and sunflower oil to Australian retailers.

At the same time, Wilmar - led by chairman and CEO, Kuok Khoon Hong, 64 - has cornered the market Down Under in imported packaged oils which supermarkets sell under their private labels.