Goodman Fielder to integrate retail businesses

Goodman Fielder has begun the integration of three of its retail-focused businesses in New Zealand.

The company had previously said it was reviewing its Baking, Dairy and Home Ingredients businesses to see if there was a more efficient and effective model that “leveraged the company’s size in the market into a scale opportunity,” the company said.

Goodman Fielder said today it had decided that the integration of the businesses would improve interaction with customers, suppliers and stake holders while creating opportunities to reduce operating costs.

Chief executive Chris Delaney said operating as three semi-independent companies made it hard for customers and suppliers to do business with the company and meant it had not been able to use its scale to drive efficiencies.

“This new integrated structure will allow us to bring the considerable capabilities of Goodman Fielder to the marketplace and to service our consumers and customers more effectively.”

The company also announced Peter Reidie to the newly created position of managing director, to lead the company’s about $1 billion New Zealand retail division.

This article is tagged with the following keywords. Find out more about My Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7847 -0.0008 -0.10%
AUD 0.9221 0.0002 0.02%
EUR 0.6286 -0.0018 -0.29%
GBP 0.5000 0.0005 0.10%
HKD 6.0851 -0.0040 -0.07%
JPY 92.9110 0.3310 0.36%

Commods

Commodity Price Change Time
Gold Index 1196.6 -2.970 2014-11-26T00:
Oil Brent 79.4 -0.640 2014-11-26T00:
Oil Nymex 73.7 -0.340 2014-11-26T00:
Silver Index 16.6 0.000 2014-11-26T00:

Indices

Symbol Open High Last %
NZX 50 5455.4 5474.7 5455.4 -0.57%
NASDAQ 4797.1 4797.9 4787.3 0.12%
DAX 9990.7 9990.7 9974.9 -0.19%
DJI 17830.6 17865.6 17827.8 0.18%
FTSE 6723.4 6723.9 6723.4 -0.23%
HKSE 23982.3 24117.2 24004.3 -0.07%
NI225 17340.2 17471.9 17248.5 1.23%