Australia: Patties Foods to acquire Food Partners

Patties Foods, an Australian pie and pastry firm owned by Pacific Equity Partners, is to acquire New Zealand based convenience food manufacturer Food Partners, according to an article in the National Business Review.

Food Partners, which trades as Leader Products, produces a range of frozen meat-based products for both retail and foodservice channels, including chicken and beef burgers and patties, finger food such as hotdogs, chicken goujons and meatballs, and "meal solutions" including chicken kievs, chicken cordon bleu, escalopes and pork riblets. The company, which was founded in 1998, is reported to have turnover in the order of 60 million NZD ($43 million).

In an e-mail statement, Patties Foods chief executive Paul Hitchcock is quoted as saying: "This deal will create a market-leading food business across Australia and New Zealand. Leader is a great New Zealand success story and we are very keen to support the team in their continued growth".

Source: National Business Review / Food Partners