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Perich family counts cost of $590m blowout

Perich family counts cost of $590m blowout

The billionaire Perich family, which owns 52.5 per cent of the suspended ASX-listed Freedom Foods, finds itself at the centre of a financial firestorm.

Tony Perich, right, and his son Mark Perich on their dairy farm. The billionaire Perich family has now lent Freedom Foods $45 million. James Brickwood

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Self-marking is a notoriously challenging exercise, and all the more so when your company has just blown up nearly $600 million.

But that's what is required under the annual corporate governance report, and surprisingly, the Freedom Foods board has performed – by their own reckoning – pretty well.

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Jemima Whyte
Jemima WhyteSenior reporterJemima 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
Carrie LaFrenz
Carrie LaFrenzSenior reporterCarrie 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

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Original URL: https://www.afr.com/companies/manufacturing/perich-family-counts-cost-of-590m-blowout-20201201-p56jkx