Buderim Ginger Alcoholic Ginger Beer. Photo: Lachie Millard
Buderim Ginger Alcoholic Ginger Beer. Photo: Lachie Millard

Ginger company receives takeover offer

BUDERIM Ginger has received a $8.3 million takeover offer for its ginger assets from Global Foods, it has been announced.

The Sunshine Coast company made the announcement last night, and said the assets comprise of a factory, tourism sites and a portfolio of ginger brands, The Australian reports.

The takeover offer follows a decision in 2018 to review its ginger business with a number of approaches made to the ­company and Global Foods making the best bid.

Global Foods is mostly owned by businessman ­George Vasili and is also a major shareholder in ­Buderim Ginger with a stake of 15.86 per cent.

Under the proposed offer, Global Foods will offer $8.3 million for the ginger division of Buderim Ginger on a going concern basis subject to necessary adjustments for assumed ­liabilities, employee entitlements and working capital.

China business specialist Dennis Lin is to take charge of the planned sale of Buderim Ginger's ginger assets to transform it into a pure player in the lucrative macadamia nut market.


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