MARKETS SPECTATOR: Goodman Fielder's humble pie

Goodman Fielder chief Chris Delaney has been forced to do an about face by Woolworths and Coles.

Goodman Fielder chief executive Chris Delaney has been forced to eat humble bread. In a rather humiliating about face after waging a very public campaign earlier this year against Coles and Woolworths for squeezing suppliers such as his company, Delaney today announced a deal whereby Australia’s biggest bread producer will supply the supermarkets with loaves they can label their own.

Delaney had publicly eviscerated the supermarket oligopoly for pushing suppliers into supplying them with loss making products, denouncing in particular, price pressure from private label brands.



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