Page 71 - Food&Drink Nov-Dec 2020

to expand into the ready meals market. Daly produces premium potato products sold through major supermarket chains. Sales have grown from $211,000 in 2017 to $2 million.
While talking about spuds, Australia’s largest family owned red meat processors, Thomas Foods International (TFI) sold its fresh potato business to Mitolo Family Farms. TFI bought the business in 2013 but would now focus on its core business. The ACCC signed off on the sale in August.
In an unrelated acquisition, TFI bought a 50 per cent stake in meat processing company Frew International.
ON A SWEET NOTE
One of the world’s largest chocolate and cocoa product manufacturers Barry Callebaut Group acquired Australian B2B chocolate manufacturer GKC Foods. GKC is based in Melbourne, privately owned and had been in operation since the 1980s. It produces chocolate, organic and vegan chocolate, coatings and fillings to consumer brands, dedicated chocolate shops, gourmet delis, specialty food outlets, and key national retailers in Australia and New Zealand. Barry Callebaut said the acquisition was a strategic move to build a direct presence and manufacturing capacity in the Australian market.
GINGER AND SPICE
In June, the Buderim Group announced it was selling its ginger brand to focus on the more profitable macadamia business and to reposition itself as a health and plant protein
company. Global Foods Group offered $8.3 million, but by August, the company announced it had sold to the Queensland-based Himstedt family for $13 million. Meanwhile,
the Buderim Group is changing its name to Health and Plant
Protein Group and recently undertook a
$6.2 million capital
raise to fund its
expansion plans.
On another agri
note, Select Harvests
acquired Piangil
Almond Orchard for
$129 million, as the
company continues to grow and optimise its almond orchard base in north-west Victoria.
It is expected to increase almond production by 4600 square tonnes in its first full year for the company. Select Harvests rocketed up from 92nd to 70th in this year’s Top 100
due to a change in its reporting season.
AMATIL HOUR
And finally, Coca-Cola Amatil. COVID-19 made
Amatil’s year a challenging one, but in the fading light in
stepped Coca-Cola European Partners (CCEP) with an offer to buy 69.2 per cent of the entire existing share
capital of Amatil, held by independent
shareholders for $12.75 per share. CCEP also entered a co-operation
and sale deed with Coca-Cola Company in
respect to acquiring its 30.8 per cent interest, conditional on implementation of the scheme with Amatil.
The board has recommended the deal, FIRB and the OIO will have to approve it and shareholders will vote on the offer in March 2021. ✷
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