UK-based food and ingredients supplier Associated British Foods has revealed it has acquired an Australian hummus maker.
The acquisition of Yumi’s Quality Foods, for an undisclosed sum, was made through ABF’s subsidiary George Weston Foods, the maker of Tip Top bread, in September, the group disclosed today (6 November).
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ABF bought out investment firm Anacacia Capital, which took a majority stake in Yumi’s in 2014, as well as the company’s founders, the Friedman family.
The Friedman brothers, Benjamin (Yumi) and Michael, will remain in the business, which specialises in dairy and gluten-free dips, aioli, vegetarian snacks, mayonnaise and smoked fish.
Yummi’s, which started out in a fish shop in the Melbourne suburb of Ripponlea that the Friedman brothers’ grandfather owned, is known for its hummus, of which it makes 100 tonnes a week.
In the year ended 30 June 2018 the business generated sales of AUD$51m (US$36.9m).
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By GlobalDataSpeaking to Australian media outlets at the time of the deal, Anacacia managing director Jeremy Samuel said Yummi’s is “a great business with terrific people” and has expanded rapidly, including through export markets, since the firm came on board.
Yumi’s now sells its products through major supermarkets in Australia and abroad in markets such as Singapore, Thailand and Malaysia.
