Freedom Foods’ convertible debt lifeline has been arranged to minimise any settlement from a $26 million legal dispute with key supplier Blue Diamond Growers over the group’s rights to continue selling its growth brand, MilkLAB.
The action taken by the US almond grower co-operative– now in US arbitration – is just one issue confronting the fallen market darling under new chairman Genevieve Gregor and chief executive Michael Perich. The company is also helping the corporate regulator with its inquiries while also running its recapitalisation.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
