Singapore based Wilmar International and Hong Kong based First Pacific look set to buy Aussie food icon, Goodman Fielder which has raised the ire of Australian entrepreneur and businessman Dick Smith.
“With more than 80% of product in a typical supermarket trolley already either imported or coming from a foreign-owned company, how long will it take for this figure to reach 90% or even 95%? And as these businesses go overseas, so does Australia’s wealth,” Smith says.
“But does this truly reflect the purchase intentions of Australians or is it being forced upon us? Over 70% of Australians state they try to buy Australian made as often as possible. However, even the most patriotic consumers who want to buy Australian-made-and-Australian-owned find they increasingly don’t have a choice and the problem is becoming exponentially worse.”