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Sydney-based investments firm Allegro Funds has acquired privately owned ice cream maker Everest Foods in a transaction believed to be valued at close to $30 million.

Based in Melbourne, Everest Foods manufactures and distributes the premium NorgenVaaz and Gelateria brands, as well as Everest gelato.

Established in 1958, the company has a strong presence in the scoop-and-serve segment.

Strategic advisory business Comet Line Consulting helped the vendor successfully exit Everest Foods. Director David Baveystock said a number of foodservice markets "remain highly fragmented, and are ripe for further consolidation opportunities”.

Allegro Funds also took control of Pizza Hut in Australia earlier this year.

Packaging News

PKN’s July-August issue is another bumper edition showcasing sustainability and innovation in Snacks & Convenience, Flexible Packaging, Digital Printing and Smart Factories, and featuring the gold winners in this year's prestigious Packaging Innovation & Design Awards (PIDA).

Amcor Flexibles has partnered with compostable packaging producer, TIPA, to bring its compostable packaging technology to Australia and New Zealand.

As part of its ambition to be Australia’s most sustainable supermarket, Coles Group has launched a national campaign that brings to life and celebrates its recently launched Sustainability Strategy.