Close×

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

Australians use one billion coffee cups per annum, and their recycling continues to present a challenge. Simply Cups has been working on closed loop solutions since 2017, and now a government grant will boost its national presence.

Schwarzkopf Australia has entered an exclusive partnership with TerraCycle to ensure all its retail hair care, hair colour and hair styling products and packaging nationwide are recyclable.

APCO has appointed its board of directors for 2021, comprising industry leaders spanning the waste and recycling, packaging, food and beverage, and sustainability sectors.