Finasucre considering a sale of Australia's Bundaberg Sugar

Australian Financial Review

Monday, August 28, 2023

Street Talk can reveal the owners of one of the country's best-known supermarket brands, Bundaberg Sugar, have hired two banks to run a buyer search in what could be one of the biggest deals of the year. Belgian-based sugar giant Finasucre, which has controlled the Queensland business for more than two decades, is understood to be considering a sale, tapping Lazard Australia's Campbell Ray and Kidder Williams' Tim Faulkner to find a buyer. The business is expected to generate earnings before interest, tax, depreciation and amortisation of around $25 million next year, and is slated to fetch a value around the $600 million mark.

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