Japan-based food manufacturer Nisshin Seifun Group has been linked in the Australian media with possible interest in local bakery business Allied Pinnacle.
The Australian Financial Review reported today (3 September) Nisshin executives had toured Allied Pinnacle’s factories and met with management.
Nisshin, the newspaper said, had looked at Pinnacle Bakery – a precursor of Allied Pinnacle – before Pacific Equity Partners bought that business from Kerry Group in 2015.
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 Australian Financial Review said today Pacific Equity Partners had hired advisers to oversee the sale of Allied Pinnacle, which 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.
In July, The Australian newspaper said Associated British Foods and Goodman Fielder were ready to bid for Pinnacle Bakery.
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.
