Page 54 - Food & Drink Magazine Nov-Dec 2018

YEAR IN REVIEW
2018headline makers
Food & Drink Business wraps up the news year with an overview of some of the top businesses and product stories of 2018.
✷ JAN/FEB
DARRELL LEA SOLD
The Quinn family who rescued Darrell Lea from voluntary administration six years ago sold most of the company to a private equity firm for $200 million. Sydney-based private equity firm Quadrant Private Equity is the iconic confectionery company's new owner although the Quinns retain a minority stake.
Darrell Lea was founded in 1927 and after its acquisition, the Quinns constructed a brand new multi-million-dollar facility in Western Sydney. In 2017 financial year, the company made over $110 million in sales, and Quadrant has said it will continue to grow Darrell Lea and expand its manufacturing capacity.
The Quinns are Queensland entrepreneurs and founders of chilled pet food
company VIP Petfoods,
which they also sold to Quadrant Private
Equity for $410 million in 2015.
TFI FIGHTS ABATTOIR FIRE
Thomas Foods International (TFI) started off the new year battling a massive fire that ripped through its Murray Bridge abattoir near Adelaide. The fire was reportedly sparked by a maintenance worker who was welding an offal bin.
TFI CEO Darren Thomas said the family company was committed to Murray Bridge and was taking a long-term and sustainable approach to the recovery and rebuild.
The site required significant repair and upgrade, and workers on 417 backpacker visas were terminated, but TFI retained its 457 visa holders and permanent workers, who took two weeks' leave.
BUYER SOUGHT FOR IXL BRAND
Changing breakfast
habits were the
reported
reason
behind the
decision by
Coca-Cola
Amatil's
fruit and
vegetable
processor
SPC
Ardmona
to sell the
IXL jam brand and Taylors marinades. The sale of IXL and Taylors, which are both processed in Kyabram in Victoria's Goulburn River Valley, aimed to help SPC to focus on categories where it has a competitive advantage, such as canned tomatoes, fruit, baked beans and spaghetti.
In September, a newly formed company Kyabram Conserves became the new owner of IXL jam and Taylor's marinade and sauces. Kyabram Conserves is backed by Sydney-based fund and asset manager, Millinium
Capital Managers.
The IXL and Taylor’s products
will continue to be processed locally at the existing manufacturing site in Kyabram with all 50 employees to be retained.
NESTLÉ SELLS OFF VIOLET CRUMBLE
The iconic confectionery bar Violet Crumble changed hands with Nestlé Australia selling the brand to Adelaide-based confectioner Robern Menz, maker of products including FruChocks, Crown Mints and Choc Honeycomb.
The multi-million-dollar sale of the Violet Crumble brand included its associated intellectual property, plant and equipment with the manufacture of the product
moved from the Nestlé factory in
Campbellfield, Melbourne where it has been made since 1983.
The equipment was transported to Adelaide from Nestlé’s facility in Melbourne and
reassembled at the Robern Menz factory in
Adelaide where a factory refit and extension was completed along with new warehousing facilities.
Violet Crumble was invented in Melbourne 102 years ago and was one of the first confectionery bars made
in Australia.
HEMP FOODS LISTS
ON ASX
Following a change in legislation and two decades of work by hemp pioneer Paul Benhaim, Hemp Foods
Australia listed on the ASX. The company, founded by Benhaim, listed under its newly formed parent company Elixinol Global Limited, and was formed from a merger of three companies – hemp food wholesaler Hemp Foods Australia, hemp-based dietary supplement and skincare maker US-based Elixinol LLC, and Australian medicinal cannabis company Elixinol Pty Ltd.
Benhaim, who founded all three companies, is the CEO of the combined entity. Australian-based Hemp Foods Australia continues to be a global manufacturer and distributor of hemp food products and skin care, Elixinol LLC continues to supply hemp-based cannabidiol (CBD) dietary supplements and topical products, and Elixinol Pty Ltd provides medical marijuana exported from Australia into regulated markets across the globe.
CHOBANI STARTS UP AUSSIE FOOD INCUBATOR Five Australian food and beverage startups poised to tap into the latest industry trends ranging from high-protein jerky through to matcha powder and nut butter, were selected to
be part of Chobani's new
Food Incubator.
The companies making up the inaugural incubator class
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