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Nissin Foods has acquired 100% of the shares of ABC Pastry for AUD 33.7 million (approx. $23.26 million).

Once the transaction is complete, ABC Pastry will become a wholly-owned subsidiary of Nissin. Based in Sydney, Australia, ABC Pastry is a national manufacturer of premium quality dumplings.

The companies believe that Nissin Foods’ acquisition will provide valuable expertise and experience in the operational and financial management of ABC Pastry, contributing to its long-term development while enabling Nissin to diversify its business portfolio. This diversification is set to broaden Nissin's income sources, benefitting it and its shareholders.

The deal will also enable Nissin Foods to strengthen its position in Australia’s frozen food market – Nissin says that the country’s frozen food market size is expected to experience ‘robust growth ‘ as frozen dumplings, in particular, have been benefitting from the rising Asian migration to Australia.

Additionally, through the acquisition, Nissin will tap into the growing demand for convenient, high-quality frozen foods, driven by busy lifestyles and a desire for international cuisines. The group anticipates that the trend will continue, with more opportunities for expansion of the premium frozen food market in Australia.

Kiyotaka Ando, executive director, chairman and CEO of Nissin Foods, said: “The acquisition of ABC Pastry marks another milestone in our overseas market plan...This latest acquisition will allow us to diversify our product offerings and distribution channels and aligns with our long-term corporate vision and strategy of strengthening our market presence in key overseas markets.”

Ando continued: “By leveraging ABC Pastry's extensive local network and premium frozen products, Nissin Foods is well-positioned to enhance our connection with the local community and Australian consumers. We believe that the acquisition will reap significant operational and financial synergies through the integration of its business with ours, ultimately delivering increased value to shareholders.”

It’s been a busy year so far for Nissin. In January, the firm’s US division appointed Brian Huff as its president and CEO, succeeding Mike Price, who retired from the position after serving since 2018. In June, the instant noodle giant acquired Korean snack company Gaemi Food in a $34.6 million deal, in a move to bolster its presence in the Korean and overseas markets.

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