[1] Golden Circle began operations in 1947 after construction of the main canning factory at Northgate was completed.
[2] The new facility was opened on 28 October 1947 by the then Premier of Queensland, the Hon Edward Hanlon in the presence of 1500 people including 500 Sunshine Coast fruit growers who arrived on a special train.
The board and shareholders of GC agreed and sold all of their shares for 313% more than they were trading at prior to the offer from US Corporation, Heinz.
[citation needed] Australian farmers supply more than 180,000 tonnes of fruit and vegetables annually to the company for processing.
The fruit crops, of which pineapple is the largest, come from the Sunshine Coast hinterland, Maryborough, Woodbury, and northern Queensland.
Phillip Cave advised that the take over bid of $1.65 per share ($288 million in total) was "attractive" for all shareholders, particularly given the current difficult economic conditions.