Page 6 - Food & Drink Business August 2018

NEWS
Keytone
Dairy raises
$15m for IPO
NEW Zealand’s Keytone Dairy has raised $15 million in funds for its proposed listing on the ASX via an Initial Public Offering (IPO).
Demand for shares in the powdered dairy products company significantly exceeded the maximum fundraising of $12 million (up to $15 million with oversubscriptions), and as a result scale-backs on the number of applications received have been applied.
Keytone Dairy conducted a targeted marketing campaign in Australia, New Zealand and Asia, and attracted a number of institutional investors to its register.
Upon listing, Keytone Dairy will have a market capitalisation of $30 million (based on the IPO issue price of $0.20 per share). Funds from the IPO will be used primarily to expand Keytone Dairy’s manufacturing base from its one existing facility, as well as expanding its product range, existing distribution network, and distribution in additional geographic markets.
CEO James Gong said he believed the ASX listing would accelerate Keytone Dairy’s growth.
Keytone Dairy has already purchased land for two new manufacturing facilities it plans to build, in addition to its purpose built existing Christchurch facility.
Once completed, these facilities will enable Keytone Dairy to both increase its capacity and expand into a number of new products to meet customer demand. The new facilities will also enable the company to meet demand from high-volume customers in China andotherAsiancountries. ✷
Kaufland now hiring talent
THE arrival of Kaufland in Australia is not far off now, with the German giant beginning the executive recruitment process.
Kaufland’s website is now displaying a number of job ads for senior Melbourne-based executive positions in procurement, IT, building
services, project management, and category management.
Kaufland is believed to have already gained former Woolworths and Metcash executive Mark Hewlett as its chief operating officer.
The world’s fourth-largest retail company Schwarz Group,
which owns the groceries and homewares chain along with supermarket chain Lidl, registered ‘Kaufland’ as a local trademark in November 2016.
Kaufland’s arrival was announced in March last year, and late last year, the company bought sites in Adelaide and Dandenong, and is now looking to purchase more Australian sites, according to its website.
Part of Adelaide’s old Le Cornu site on Anzac Highway is tipped to become Australia’s first Kaufland hypermarket, a combined supermarket and discount department store.
The German company has reportedly applied to build the store on the front 60 per cent of the 3.6-hectare Forestville site afterbuyingitinOctober2017. ✷
Craft beer growth prompts learning boom
COURSES helping home brewers break into the craft beer industry are growing in number as employment opportunities increase.
Economic analysis by ACIL Allen Consulting for the Brewers Association of Australia released this year shows there are almost 4000 full-time equivalent jobs at Australian breweries, with flow-on effects supporting more than 14,000 positions in the direct supply chain.
TAFE SA began offering courses a decade ago following the installation of a 600-litre teaching brewery at its Regency Park campus – across the road from Coopers Brewery.
The courses offered by TAFE SA are used by many participants to add commercial knowledge to their skills set.
The courses have grown in size and complexity with a Certificate III in Food Processing (Micro Brewing) added in 2016.
TAFE NSW also introduced Certificate III in Food Processing (Microbrewing) last year at its Ultimo campus, which has a 200-litre brewhouse.
Aside from the Certificate III course, there is an intensive five-day ‘Craft Beer Boot Camp’ twice a year and short beer courses for the hospitality industry and beer judges focusing on beer styles, ingredients, beer judging,
palate awareness, flavour knowledge and beer faults.
The brewery is also used in TAFE’s Food Science and Technology Diploma and for training microbiology and food process engineering students from the University of Adelaide.
Beers made by students under the Campus Brewery label are sold at the Regency Park campus and were poured at the Beer & BBQFestivalrecently. ✷
6 | Food&Drink business | August 2018 | www.foodanddrinkbusiness.com.au