• Even Patties Food's iconic Four 'n Twenty pie is not immune to the plant-based trend.
    Even Patties Food's iconic Four 'n Twenty pie is not immune to the plant-based trend.
  • Patties Food's Ruffie Rustic Food is at the forefront of the company's expansion into plant-based products.
    Patties Food's Ruffie Rustic Food is at the forefront of the company's expansion into plant-based products.
  • Patties has created a new vegetarian finger food range.
    Patties has created a new vegetarian finger food range.
  • Even Patties Food's iconic Four 'n Twenty pie is not immune to the plant-based trend.
    Even Patties Food's iconic Four 'n Twenty pie is not immune to the plant-based trend.
  • Patties Food's Ruffie Rustic Food is at the forefront of the company's expansion into plant-based products.
    Patties Food's Ruffie Rustic Food is at the forefront of the company's expansion into plant-based products.
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Patties Foods will sell its two Victorian manufacturing plants in a sale-and-leaseback offering, it announced this week. It anticipates raising around $130 million from the sales.

Patties Foods CEO Paul Hitchcock said the decision would allow the company to invest in future growth. “We are not in the business of property investment – we can save that for long term property investors,” Hitchcock said.

The company will market the land and buildings for sale in February 2021, and in return take on 30-year leases for both the Bairnsdale and Packenham sites.

Parent company Australasian Foods Holdco is a foreign owned private company through Pacific Equity Partners and manufactures chilled and frozen food products. It employs around 670 people in Australia and New Zealand. In 2020, its revenue was US$259.6 million.

In Food & Drink BusinessTop 100 Food & Drink Companies for 2019, Australasian Foods jumped from #89 to #68 with the acquisition of Boscastle Pastries Foods.

Other brands in the business include Four ’n Twenty, Herbert Adams, Nanna’s, Ruffie Rustic Foods, New Zealand brand Leader.

Patties has been expanding into vegetarian and plant-based markets with new product ranges across all brands with Ruffie Rustic Foods the headliner.

Packaging News

In a record year of entries, the annual Australasian Packaging Innovation and Design (PIDA) Awards program – coordinated by the Australian Institute of Packaging (AIP) – has announced the finalists for 2021 across 11 categories. The list represents the cream of the crop in packaging design innovation and industry contribution for 2021.

Nestle Oceania has switched to recyclable paper packaging supplied by Amcor for its Smarties confectionery range in Australia, upgrading its manufacturing lines to accommodate the material change.

Global label printing giant, Multi-Color Corporation (MCC), is buying 58-year-old leading Australian provider of in-mould label solutions, Herrods, for an undisclosed sum.