Pure Foods Tasmania (PFT) has acquired Australian peer Daly Potato Co. (DPC) for AUD1.8m (US$1.3m).

PFT, which has a product range including pate and cheese, said the deal will help it expand into the ready-meals market and give it access to retailers Coles and Metcash, through which the company does not sell its products.

Formed in 2015, PFT has since acquired food businesses Tas Pate and Woodbridge Smokehouse. It listed on the Australian Securities Exchange (ASX) in April after raising AUD3.5m and announced then its strategy of acquiring more complementary food and beverage businesses.

DPC, founded in 2016 by potato farmers Gerard and Susie Daly, produces potato products sold through major supermarket chains. It achieved sales of AUD2m in FY2020.

As part of the deal PFT will take on around AUD300,000 debt, mainly relating to plant and equipment. 

PFT managing director Michael Cooper said the acquisition fits the company’s strategy of moving into new food categories such as ready meals.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Meal solutions is a AUD$1bn market in Australia alone and we also see a large opportunity to support our Asian customers with unique 100% Tasmanian-based meal solutions,” he said.

“This acquisition also brings many synergies including customers, administration and supply chain benefits as well a range of new products that will be added to our new online store for our loyal consumers to enjoy.” 

PFT said that DPC also produce mayonnaise in-house which could be the basis for a new range of products, which could include vegan options.