As the market remains focused on which companies could be heading towards an initial public offering in 2021, another gaining attention is the business of Raphael Geminder, Kin Group.
There has been speculation in the market that the billionaire businessman could once again be considering a divestment of more food assets within his portfolio.
Already, the Paradise foods label, which sits within the Green’s baking business, has been up for sale.
Green’s is part of the biscuit and crackers division of Mr Geminder’s Kin Group.
There was talk in the market that Mr Geminder — the son-in-law of the late packaging baron Richard Pratt — was considering a listing about two years ago.
The Kin Group invests in Cobs Popcorn, the Cake Syndicate, which owns packaged cake manufacturer Susan Day Cakes, and Big Sister Foods.
Kin also owns a stake in Green’s Foods Holdings, owner of the Poppin microwave popcorn brand. A sale or listing of the operation could be worth at least $1bn. Sources say sales documents have not yet hit the desks of potential buyers.
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