David Errington, an analyst at Bank of America Merrill Lynch, said companies would do well if they focused on investing in their core business instead of acquiring other companies in their quest for growth, The Australian reported.
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China-based food and beverage manufacturer Bright Food (Group) Co Ltd agreed to buy Australia-based dairy firm Mundella Foods through its Australian subsidiary, Manassen Foods, for an undisclosed amount.
As part of its goal to offload non-core assets, Australia-based food company Goodman Fielder had sold its biscuit business at a loss to Green's Foods in a deal valued at $17 million.
Australia-based funds management group Alceon has acquired two shopping centers from Mirvac Group in a deal valued at $100 million as part of the listed group's non-core disposal program.
