7 May 2009

Change of ownership for Cooks Food assets

8:26 am on 7 May 2009

Wilson Foods now owns Cooks Food Group's assets.

Three weeks ago Cooks named an Australian-owned company, Hutchinsons, as the conditional buyer, but now says a better offer subsequently came from Wilson Foods.

Chairman Keith Jackson says the deal involves Wilson completing a purchase of the DYC and Diamond brands from Goodman Fielder.

The company says it will receive $4.375 million in cash on completion of the deal, compared with the $4 million it previously said it would get from Hutchinson.