Australia’s Patties Foods has expanded its presence in the frozen food category through the acquisition of frozen fruit manufacturers Chefs Pride and Creative Gourmet.
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Patties, the maker of pie brand Four N’ Twenty said that the A$25m (US$20.54m) deal is expected to be completed next month. The acquisition is expected to have a positive effect on earnings per share in 2007 and 2008, the company said.
The Sydney-based businesses will be integrated into Patties’ Nanna’s frozen desserts business.
“Patties is delighted to have the opportunity to build on the enormous success that both companies have achieved under the guidance of the current owners,” the company said. “Patties intends to extend the range of product offering under the Chefs Pride and Creative Gourmet brands and introduce additional innovations in the future.”
Patties is Australia’s largest maker of frozen savoury foods and the second-largest manufacturer of frozen desserts.
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