The $300,000 deal adds a premium Sydney seafood brand to the Woodbridge Smokehouse stable and lifts PFT’s revenue base by approximately 24 per cent.
Pure Foods Tasmania (ASX: PFT) has entered a binding agreement to acquire the assets of Brilliant Food Australia (BFA), a premium seafood brand currently generating around $1.3 million in annual revenue across around 50 stores in the Sydney market.
The deal, announced 2 April 2026, is structured as an all-scrip business and assets purchase. PFT will issue 7.5 million shares at $0.04 per share to satisfy the $300,000 total consideration, with the vendor also subscribing for a further $200,000 of PFT shares at $0.03 per share.
Both tranches are subject to shareholder approval and ASX requirements, with issued shares escrowed for 12 months. BFA stock will be acquired separately at cost prior to completion. PFT is not assuming any liabilities.
The acquisition adds roughly 24 per cent to PFT’s FY25 revenue of $5.38 million and comes with an existing manufacturing relationship already in place. PFT has been producing BFA products at its Woodbridge facility in Tasmania since November 2025 under a contract manufacturing arrangement announced in January 2026, at a margin of 12.5 per cent.
Completing the acquisition converts that arrangement into full product sales margin capture from the acquisition date.
Executive chair, Malcolm McAully, said the deal was a natural fit for the company’s core strategy.
“Brilliant Food Australia is a proven well-regarded brand with excellent product fit for our core business strategy. The acquisition increases utilisation of our Woodbridge facility and provides a platform to expand distribution of the product range through our existing network,” McAully said.
PFT’s stated ambition is national distribution for BFA, leveraging the retail and foodservice channels it has built through the Woodbridge Smokehouse brand. BFA’s current footprint is narrow – around 50 stores in Sydney – which PFT views as upside rather than a constraint.
The acquisition is the latest step in PFT’s buy-and-build model, which Food & Drink Business has followed since the company’s early acquisitions. The company has historically structured its deals to bring manufacturing into its Woodbridge facility and use existing retail relationships to scale distribution – the same logic applied to its acquisition of Daly Potato Co in 2020 and the Elato Ice Cream deal in late 2025, which consolidated the ice cream division around PFT’s Tasmanian manufacturing assets.
The Elato deal saw the Aroni Family Trust invest $200,000 in PFT at $0.03 per share as part of the transaction structure, a mechanism mirrored in the BFA deal. McAully, who took the executive chair role following managing director Michael Cooper’s resignation in mid-2024, has since been refocusing the business toward its core premium food categories after a period of significant restructuring that included the sale of Lauds Plant Based Foods and product rationalisation across the Daly division.
PFT’s current brand stable comprises Woodbridge Smokehouse, Tasmanian Pate, Daly Potato Co and the PFT Ice Cream Division. BFA will sit alongside the Woodbridge Smokehouse products given the seafood category alignment and shared Woodbridge production.
Completion is subject to shareholder approval at the upcoming PFT AGM and assignment or novation of key contracts. If the transaction does not complete, the existing contract manufacturing arrangement with BFA will continue.
