Pure Foods Tasmania has finalised the acquisition of Elato, a premium ice cream brand in Australia.
The deal saw Pure Foods Tasmania (PFT) acquiring all intellectual property, brand assets, recipes and supply arrangements relating to Elato Ice Cream.
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The initial consideration was A$50,000 ($32,638.25) paid in PFT shares, with up to four million additional shares potentially issuable upon the achievement of revenue and profitability milestones.
The acquisition creates PFT’s new Ice Cream Division, uniting Elato with The Cashew Creamery, which it acquired in April 2021.
The combination creates a “multi-brand” platform spanning premium dairy and plant-based frozen desserts, according to a filing.
Elato founder Roz Kaldor-Aroni has joined Pure Foods Tasmania as general manager – Ice Cream Division.
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By GlobalDataIn her new role, she will drive sales growth, lead product development and manufacturing “optimisation”.
Kaldor-Aroni said: “The acquisition of Elato after only four years in the market, is validation that award-winning products which focus on innovation and community support are appealing to not only the ice cream buying public but also to like-minded innovators like PFT.”
The company intends to capitalise on Kaldor-Aroni’s industry experience to pursue contract-packing and licensing opportunities, maximise utilisation of existing ice cream production assets and broaden commercial reach.
Integration is already underway, with plans to consolidate all ice cream production in Tasmania.
The relocation and expansion are expected to create at least three new skilled manufacturing roles in southern Tasmania, with scope for further hires as the division grows.
PFT is also exploring new retail channels, licensing deals and contract-packing partnerships.
The Elato acquisition follows growth for PFT’s Tasmanian Pâté brand.
In October, the company said Tasmanian Pâté is now ranged in approximately 700 Coles supermarkets nationwide – more than doubling its previous footprint of 300 stores.
Initial September orders were more than ten times higher than monthly volumes recorded between June and August.
Based on current demand trends, management forecasts the expanded Coles distribution will add A$500,000-600,000 in annualised sales, representing an approximate 15% uplift to the Tasmanian Pâté revenue base relative to FY25 levels.
For the full year ended 30 June 2025, PFT net loss narrowed to A$2.8m, while revenues declined 28% to A$5.39m. The company said that the was performance was impacted due to its exit from “unprofitable” product lines.
PFT also highlighted annualised cost savings of A$1.9m and restoration of gross margin “integrity”, with cost of goods sold falling from 110% of revenue to 76%.
