Breads-to-spreads maker Goodman Fielder is poised to fall into foreign hands after accepting a $1.34 billion takeover offer.

The Hong Kong-based investment firm First Pacific and Singapore’s Wilmar International have agreed buy Goodman for 67.5 cents a share.

Goodman shareholders will also receive a one cent dividend from the Australian food ingredients maker as part of the deal.

The companies have signed a scheme implementation deed which will allow the foreign predators to buy the remaining shares in Goodman that they do not already own.