Nisshin Seifun has acquired Allied Pinnacle, the Australian flour and baked goods manufacturer, from private equity firm Pacific Equity Partners.
The purchase forms part of Japan-based Nisshin’s international expansion strategy, as it looks to buy companies with high-growth potential, where it can leverage its product development capability and provide value‐added products to customers.
As well as flour, Allied Pinnacle offers a range of bakery products and bread mixes as well as dry and wet ingredients.
With 14 manufacturing facilities, the business generates approximately AUD 750 million ($537.8 million) in sales each year and is a supplier to supermarkets, industrial bakers and thousands of independent bakeries across Australia.
Allied Pinnacle CEO James Ajaka said: “The Allied Pinnacle executive team and I are excited to be working with the Nisshin Seifun Group. Nisshin’s global footprint and track record of continually investing in driving innovation perfectly matches our strategy of delivering our unique technologies and products to markets around the world.
“The team and I are also grateful to Pacific Equity Partners for all their support and encouragement over the past four years as we have heavily invested in bringing the Allied Mills and Pinnacle Bakery business together and turning the two into a world-class fully integrated business.”
Pacific Equity Partners (PEP) managing director Tony Duthie added: “Allied Pinnacle is the leading flour, ingredients and baked products manufacturer in Australia and plays an important role in Australia’s food infrastructure. James, the management team and all the employees are to be congratulated on the business they have built.”
© FoodBev Media Ltd 2019
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