Five companies recorded double digit climbs in 2021. Bega moved up 11 places from #24 to #13 as its acquisition of Lion Dairy & Drinks started to show. This is what happens when you buy a busines that more than doubles the size of the company in revenue and employees and increases your range of branded products from around 59 per cent of the business to more than 80 per cent.
The largest jump was reserved for MSF Sugar, which leapt 20 places to #65. It was the stand-out in a handful of sugar companies having a better year. A major decline in the price of sugar from 2017 to 2019, and increased supply from India and Brazil had a bruising impact on the Australian sugar industry. In 2020, three sugar companies fell dramatically on the Top 100.
In 2021, MSF Sugar rose 20 places to #65 after falling from #70 to #85 last year. Mackay Sugar climbed 13 places to #58, after falling from #53 to #71 in 2020. Tully Sugar rose two places to #95, and reported a 0.1 per cent growth for CY20, compared to its 14.51 per cent drop in CY19.
Fresh produce company One Harvest jumped nine places from #81 to #72. It produces pre-packaged salads and vegetables, prepared deli salads, and fresh cooked beetroot and potatoes.
And Nolan Meats, a family-owned meat processing business had a 14 place shift upwards, moving from #91 to #77.