Family-owned meat processing company, Thomas Foods International, has acquired the South Australian potato processor Mondello Farms which went into receivership in March.
Mondello Farms processes potatoes in South Australia and Victoria. It sources potatoes from third party growers, and operates a substantial processing and packaging facility, but it fell on hard times when potato prices dropped in 2011/2012.
Thomas Foods International, which changed its name from T&R Pastoral in March this year, will continue to employ the majority of the company's staff.
According to its chief executive Darren Thomas, the acquisition was a strong strategic fit because it enabled the company to build an “even greater presence on the dinner plate”, reported The Weekly Times.
"We see very strong synergies between the meat processing and potato industries, and there’s strong growth potential as a result," Thomas said.
According to Thomas, the company's new name represents a commitment to its heritage and values as well as a launch pad to its future on the back of organic growth and following several successful acquisitions.
