Melbourne food manufacturer Temptation Bakeries has been sold to a private investor for an undisclosed sum.
Temptation Bakeries makes a range of premium baked products, including a retail range of pies, quiches and pastries which are sold in Woolworths.
Temptation Bakeries has been owned by the Ratcliff family since 1993, and since then has expanded into retail, foodservice and airline channels.
The company opened the new manufacturing facility in Chelsea Heights two years ago.
Comet Line Consulting, which oversaw the deal, announced the sale this week on behalf of the company. Although not officially announced, the new owner looks likely to be Bakery Investment Group, according to reports.
“Comet Line Consulting is pleased to announce that its client, Temptation Bakeries has completed the sale of the business to a private investor,” director David Baveystock said.
“We are delighted to have helped the Racliff family successfully exit Temptation Bakeries' and to have found such a strong new owner for the business.”
Earlier this year, Patties Foods accepted a takeover offer from Pacific Equity Partners, and Baveystock says he expects to see further consolidation in the Australian bakery sector.
