Page 6 - Food&Drink Magazine Aug-Sep 2021

NEWS
McCain sells Sara Lee
NEW Zealand private equity firm South Island Office (SIO) has bought the ANZ operations of Sara Lee from McCain Foods. McCain announced in October 2020 it was looking to sell the business.
SIO bought New Zealand bakery business Original Foods Baking Co. for $30 million in 2020. It was the first move by the company into the food sector.
SIO director Tom Elworthy told Food & Drink Business: “We are very happy with the two businesses and focusing on maximising the opportunities to grow both, together.”
The deal was prompted after SIO spotted media reports of McCain looking to sell the business in October last year. “After very early discussions with Rothschild, it became apparent that it was a natural fit for us,” Elworthy said.
SIO said the acquisitions will bring together two successful brands into the region’s leading frozen desserts and bakery treats business.
Sara Lee recorded $96 million in sales in FY20 and more than
$15 million in EBITDA. Baked goods accounted for 31 per cent of sales and ice creams 17 per cent. Sara Lee held 53 per cent of the frozen dessert market in ANZ.
While Sara Lee and Original Foods will be run independently, SIO will look for opportunities for the companies to partner on NPD.
Under the sale terms, all Sara Lee employees at its Lisarow site willremainwiththebusiness. ✷
SPC mandates vaccinations
SPC is the first Australian company to mandate all staff be vaccinated by the end of November. All employees, including casual and permanent staff as well as contractors, must have at least the first dose of the
vaccine scheduled by
15 September, with the
first dose received by the end of
October.
Any visitors to an SPC site will also have to be vaccinated.
All staff will be aided and offered compensation via paid time off when required to receive their vaccinations as well as special paid leave of up to 2 days for any staff who may become unwell after vaccination.
For those with a pre-existing condition and are unable to receive the vaccine their circumstances will be considered on a case-by-case basis.
SPC chair Hussein Rifai said the company’s leadership team and board recognised the
significant threat of the virus to its employees, the
community, and the business.
“Lockdowns are not a sustainable solution, and the Australian economy needs to open up again. The only path forward for our country is through vaccination,” Hussein said.
The Australian Manufacturing Workers’ Union said SPC failed to properly consult with the union over the demand, adding the company was required by law to consult on any planned major change to health and safety.
SPC rejected the assertion and comments by Australian Council of Trade Unions secretary Sally McManus that vaccinations were a “slippery slope” to businesses mandating other medical procedures.
Following SPC’s announcement the Fair Work Ombudsman updated its guidance, saying employers could only mandate employee vaccinations if a specific law applied and the relevant enterprise agreement or employment contract permitted the requirement. ✷
Aussie start-up delivers dairy without the cow
A start-up formed by Australia’s largest dairy co-op, the venture fund of the nation’s scientific research body CSIRO, and a seasoned FMCG specialist says it has developed the technology to create animal-free dairy. It expects to be in market with its first product in the next 18 months.
Eden Brew says it has pioneered a way of creating dairy milk using precision fermentation rather than the traditional four-legged bovine supplier.
Using science from CSIRO, it has found a way to produce the same proteins found in cow’s milk. Essentially, precision fermentation has enabled to team to ‘brew’ milk.
“The result will be animal-free dairy with a frothing, creamy,
milky taste. It will have all of the good stuff, without the cow. No lactose, no cholesterol and low allergenicity,” it said.
Eden Brew was formed under CSIRO’s deep tech venture fund Main Sequence’s venture science model and is backed by
$4 million in funding, technology and industry expertise from Main Sequence, Norco and CSIRO.
Main Sequence partner and Eden Brew co-founder Phil Morle said: “Protein alternatives are gaining global traction with consumers, the industry, and producers taking notice of the environmental and health benefits they present. With a
record-setting US$3.1 billion invested in alternative proteins in 2020, we see significant market potential for Eden Brew.”
Australia’s largest dairy cooperative Norco has backed Eden Brew, with CEO Michael Hampson one of the co- founders. Hampson said the co-op’s involvement was about being at the forefront of innovation and food science. ✷
6 | Food&Drink business | August/September 2021 | www.foodanddrinkbusiness.com.au