We take a look at the Top 10 Australian companies – the industry’s biggest by annual revenue – in the Top 100 Australian Food & Drink Companies 2019 report, developed in collaboration with IBISWorld.
There wasn’t much movement at the very top of the list, with Fonterra and JBS maintaining first and second spots.
Despite reporting a NZ$605 million financial loss, Fonterra has again topped the list. It was the second loss for the company in two years, a first for the company in its 17-year history and what CEO Miles Hurrell called an “incredibly tough” year.
Meat company JBS held its spot as it embarked on two major sustainability initiatives and acquired White Stripe Foods to boost its distribution capabilities.
Beverage giants Coca-Cola Amatil and Lion continued their dance from last year, swapping places this year to take #3 and #4 position respectively, after Lion recorded a 23.41 per cent drop in revenue.
Similarly, Treasury Wine Estates and Teys swapped spots this year at #5 and #6 with Treasury reporting a 17.11 per cent increase in revenue, while Ingham’s held strong at #7.
Nestlé fell two spots to #10 to make room for the two companies that came thundering up from the back of the pack.
Carlton & United Breweries shot up from #14 to #8, but it was Saputo Dairy that truly came from behind, rising from #34 to #9.
Saputo’s rise was due to its $1 billion takeover of Murray Goulburn and Warrnambool Cheese & Butter making it the largest dairy processor in Australia. It had the highest revenue growth in the list, at 220.84 per cent.
As a result, George Weston Foods (#9 in 2018) and Goodman Fielder (#10 in 2019) were knocked out of the Top 10 altogether, landing at #11 and #12 respectively.
Editorial by Food & Drink Business. All data sourced from IBISWorld.