Page 79 - Food&Drink magazine November-December 2022
P. 79

                 Josef Chromy Wines.
Good Drinks Australia acquired Victorian craft brewery Stomping Ground after a “long courtship” for $7 million. Stomping Ground was
founded in 2016 by Steve Jeffares, Guy Greenstone, and Justin Joiner. Its
Collingwood brewery
produces has capacity
to produce more than
2.1 million a year, with
Good Drinks planning
to double that by FY27.
Endeavour Group expanded its premium wine portfolio, Paragon Wine Estates,
acquiring Shingleback Wine in McLaren Vale, South Australia, and Tasmanian winery Josef
Chromy Wines. They join Oakridge Wines, Chapel Hill, Krondorf, Riddoch, and Isabel Estate in the stable.
Perfection Fresh acquired processed and packed fruit and vegetable company Tess Fresh to expand its convenience and ready-to-eat capabilities. Perfection Fresh CEO
Michael Simonetta said the acquisition would “unlock value for the entire value chain beyond where we are today”. Convenient, ready-to-eat products were a “critically important component” to its strategic plan, he said.
And entering the acquisition scene for the first time, cereal and snacks business Carman’s
acquired South Australian snack brand Fruit Wise. Carman’s founder Carolyn Creswell said it was the “unparalleled similarities and outlook on healthy snacking” that sealed the deal.
As we go to press news is breaking of Tattarang investing a further $11 million in AACo, taking its stake to 18.5 per cent. The wheels keep on turning. ✷
         Food Processing Equipment & System Specialists
  Soups Sauces Stocks
Process design expertise
Batch & continuous process
Local manufacture & support
Equipment & end-to-end solutions
Condiments Desserts Dips | November-December 2022 | Food&Drink business | 79
Fruit Wise founders Virginia and Bridget Beal with Carman’s founder Carolyn Creswell.

   77   78   79   80   81