• Lion has acquired the remaining 50 per cent of leading gin brand Four Pillars, having bought half the distiller four years ago. Four Pillars joins Lion’s Vanguard Luxury Brands distribution business to form a new, stand-alone spirits division called Four Corners Global Spirits.
    Lion has acquired the remaining 50 per cent of leading gin brand Four Pillars, having bought half the distiller four years ago. Four Pillars joins Lion’s Vanguard Luxury Brands distribution business to form a new, stand-alone spirits division called Four Corners Global Spirits.
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Acquisition and merger activity in the food and beverage sector was subdued during the first quarter of 2019, Comet Line Consulting's (CLC) quarterly review says. But the outlook is positive with several sale processes underway.

In January, Patties Foods acquired Simplot’s Pakenham production facility. Simplot announced in August 2018 it planned to close to facility after leaving the frozen meals category. Patties will use the Pakenham site to produce the company's chilled range and sweet options (F&DB 20/01/2019).

Maggie Beer

Maggie Beer sold the remaining 52% of Maggie Beer Products to Longtable Group for $10 million (F&DB 01/03/2019). Longtable had bought 48% of the company in 2016. 

CLC advised Vitality Brands on the sale of two of its brands – Well Naturally and Power Super Foods – to Darell Lea. Well Naturally is Australia's leading sugar-free chocolate brand in corporate and independent retail chains. Power Super Foods is a heritage nutritional superfoods brand.

Japan’s Nisshin Foods acquired Allied Pinnacle from Pacific Equity Partners (PEP) for $950 million (enterprise value). (PEP had acquired Pinnacle Bakery & Integrated Solutions from Kerry Group in 2015 for approximately $200 million.

The Pinnacle Bakery business was merged with Allied Mills in 2017 to form Allied Pinnacle. Allied Pinnacle was top performer in Food & Drink Business's Top 100 companies last year. It jumped from 80th to 40th after acquiring Allied Mills Australia and reporting a 150 per cent rise in its revenue (F&DB 03/12/2018).

Top 100

Nisshin Foods forms part of the Nisshin Seifun Group with a primary focus on the production of pasta products, dried noodles, chilled, refrigerated and frozen food products.

Four Pillars

Kirin Australia’s beer business, Lion, acquired a 50% interest in Four Pillars Gin. Four Pillars Gin is located in Healesville (VIC) and was established in 2013. Four Pillars will use the investment from Lion to expand distribution of its product to global markets (F&DB 22/03/2019). 

Bubs

ASX listed Bubs Australia announced the acquisition of Australia Deloraine Dairy for a consideration of $35 million settled, $25 million in cash and $10 million in shares. The transaction includes an earnout component with payments of up to $15 million if certain targets are met. Deloraine is an infant formula producer and one of just 15 licenced canning facilities in Australia that meets regulatory import conditions into China (F&DB 01/01/2019)

Australian online food delivery company Five Point Four was placed in administration. Five Point Four offered customers low carb, high protein meals. The company listed increased competition and the cost to serve as reasons for placing the business into administration (F&DB 20/03/2019)

Packaging News

Earlier this month PKN published an article that voiced industry concern over the speculation that Qenos might be closing its polymer manufacturing plants in Australia. Qenos has remained silent on the matter. The MD of Qenos customer Impact International, Aleks Lajovic, wants some answers.

Amcor, a global leader in developing and producing responsible packaging solutions, is the proud recipient of eight FPA Awards for innovative and sustainable contributions to the industry.

An impressive number of quality entries into the inaugural Hive Awards created a highly competitive line-up for judges to consider. The packaging category was one of the most strongly contested.