Barwon move

Press, 20 March 1987, Page 10

Barwon move

The chairman of Barwon Farmlands, Ltd, Mr Kevin Driscoll, has announced that as part of the restructuring of the company’s food group they had sold the health foods department. The department, which comprises Russells retail stores in Sydney and Biogenics health foods in both Sydney and Brisbane, has been sold to Blackmores Laboratories, Ltd, of Sydney for sAust3,loo,ooo cash. Mr Driscoll said that this divestment was in line with the company’s present strategy of maintaining strong liquidity so that investment decisions in the liquor and food industries could be made quickly. “Barwon’s directors

have a number of investment opportunities presently under investigation or consideration, which would complement the company’s existing operations,” he said. The Russells and Biogenics businesses were taken on by Barwon following the acquisition of Ariadne’s food and liquor divisions in November, 1986. Barwon’s food and liquor operations currently comprise the bulk of that acquisition, and encompass the Walter Reid liquor business, Mamma Fiorelli garlic bred, Nature Fresh salads, bakery and cheesecake manufacture, smallgoods distribution and fresh fruit and vegetable wholesaling.