Associated British Foods and Goodman Fielder are reported to be ready to make bids for Australia-based bakery business Allied Pinnacle.
The Australian newspaper reported ABF, which owns Australian bread-to-meats group George Weston Foods, and Australia-headquartered Goodman Fielder are believed to be preparing to do battle for Allied Pinnacle, which is owned by local private-equity business Pacific Equity Partners.
Officials representing ABF and Goodman Fielder had not returned requests from just-food for comment at the time of writing.
Pacific Equity Partners created Allied Pinnacle last year when it acquired Australian bakery products and flour manufacturer Allied Mills from GrainCorp and Cargill, combining that asset with its existing Pinnacle Bakery & Integrated Ingredients business.
The private-equity firm snapped up Pinnacle Bakery from Ireland’s Kerry Group in 2015.
Allied Pinnacle supplies bakery ingredients to food manufacturers, as well as finished bakery products to retailers and foodservice operators. Its consumer brands including The Good Going Bakery, which sells products at retailers including Australia’s Woolworths Ltd.
ABF’s bakery business in Australia includes bread brand Tip Top. Goodman Fielder, owned by Singapore-based Wilmar International and Hong Kong investment fund First Pacific, has a portfolio of brands that includes Mother’s Choice flour and Wonder White bread.