Buderim Ginger, the Australian ginger and macadamia nut processor, has moved to further expand its bakery business with the acquisition of the pastry assets of pie maker Maypole Foods.
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Buderim, which makes pies, sausage rolls and cookie doughs from its base at Marrochydore, announced the pastry deal today (3 December).
The company said the acquired production equipment from the Hobart-based firm will be relocated to Marrochydore to start producing the Maypole savoury pastry range in January.
Maypole is indirectly owned by JH Roy, a Buderim director and a substantial shareholder in the business.
However, Buderim said the deal was negotiated on an “arm’s length” basis and added that Roy was not involved in any discussions of the move at board level.
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By GlobalData“There is no ongoing commercial relationship between Buderim and Mr Roy’s businesses as a result of this transaction,” Buderim said.
Financial details of the deal were not disclosed.
