Foodland

Published 17 September 2005 Foodland Associated Ltd improved its net profit after tax by 7.8% in the 52 weeks to 31 July, then cut the return with $19.6 million spent on breakup costs. The Perth-based retailer, owner of the Progressive Enterprises Ltd supermarket business in New Zealand, made $A113.7 million, falling to $A95.3 million once […]

Published 17 September 2005 Foodland Associated Ltd shareholders will meet in Perth on Wednesday 2 November to decide the fate of their company. 2 schemes of arrangement will be put to them at a meeting at the Burswood casino – one to sell the New Zealand operations plus some Australian assets (20 Action supermarkets & […]

Published: 25 May 2005 Woolworths Ltd of Australia will buy the Progressive Enterprises Ltd supermarket chain in New Zealand in a split agreed with current owner Foodland Associated Ltd & takeover bidder Metcash Ltd. Woolworths will buy the New Zealand business, which Metcash had wanted to split off to a separately listed company owned by […]

Published: 23 May 2005 Metcash Ltd had only 0.13% of Foodland Associated Ltd shares when it extended its takeover bid on Friday to Saturday 4 June, but negotiations have been continuing.   Trading in Metcash & Foodland securities was halted this morning with an announcement due out on Tuesday.   Metcash’s proposed takeover would result […]

Published: 13 May 2005 Metcash Trading Ltd extended its takeover for Foodland Associated Ltd by a week today and said constructive discussions with Foodland in the past week should lead to agreement in principle on a new structure. The offer has been extended to Saturday 28 May. Metcash’s bid involves splitting the Progressive Enterprises Ltd […]

Published: 4 May 2005 Metcash Trading Ltd has bumped its takeover bid for Foodland Associated Ltd up by 24% cash & 31% scrip and has proposed a taskforce representing the 2 sides to ensure an orderly spinoff of the New Zealand business. It recognises the New Zealand business is likely to be a target for […]