Could be an interesting one..
Executives at food producer and distributor Green’s General Foods are expected to meet with fund managers ahead of a potential $120 million initial public offering.
The company owns brands including Green’s cake mix, Poppin popcorn and Lowan muesli. Moelis & Co and Morgans Financial have been appointed to run the float, with a company roadshow expected within the next fortnight after fundies visited the business’s Sydney plant this month.
It is thought that Green’s could be valued at 10 to 12 times net profit. Shane Noble is the company’s chief executive and has 18 years’ experience in the fast-moving consumer goods sector, holding senior executive roles with companies including Pepsico/Frito-Lay, Snackfoods, Arnotts and Goodman Fielder. Green’s has been on somewhat of an acquisition trail in recent times, picking up the Waterwheel biscuits business in 2013 and Paradise biscuits this year.
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