Baxters Food Group, the UK soup maker, is planning to use Australia as a manufacturing base for its chutneys business to push the products into new markets in Asia.
The company, which snapped up Australian vegetables-to-pesto firm Sole Mio last year, wants to use its production facility in the market to launch its “side-of-plate” products in the country – and further afield in the region.
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Baxters has launched a series of products, including chutneys and relishes, in the UK over the last three years and is eyeing markets overseas.
A spokesman for Baxters hinted at new markets in Asia the company could target. “Manufacturing in Australia could open up new markets like Singapore and India,” he told just-food.
Baxters is also lining up a further acquisition in Australia, which the spokesman said the company hoped to complete “in the near future”.
The spokesman, however, declined to comment on the timetable for a deal or what type of business Baxters has in its sights.
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By GlobalDataThis week, Baxters reported a recovery in its bottom line in the company’s most recent financial year.
In its latest filing at Companies House, Baxters booked net profit of GBP1.5m (US$2.4m) for the 12 months to 30 May last year – against a net loss of GBP1.7m a year earlier.
