Michael Briggs
(Episode 351; 14 minutes 52) Golden Circle, the Queensland company known best for its canned fruit, in particular pineapples, was a cooperative owned by 700 farmer shareholders. After 60 years the business was struggling, making a $17.8 million loss in 2006.
Anchorage Capital Partners bought a 35 percent stake in the business, fending off interest from Coca-Cola Amatil, who had offered shareholders $1 a share.
In today’s BTalk Australia, Michael Briggs, a partner in Anchorage Capital, explains the turnaround programme they implemented at Golden Circle, to build an efficient business ready for a sell-off. As a result of their work at the end of last year Golden Circle was sold to Heinz, with shareholders gaining $1.65 per share.
Heinz now say they are looking to expand the brand in Asia Pacific.
It’s an interesting case study. Tell us what you think in the Talkback section at the end of this post.
Subscribe to BTalk Australia on iTunes.
