FDBusiness.com

R&R Ice Cream Makes Australian Acquisition

 Breaking News
  • UK Supermarkets are Struggling to Grow The latest grocery market share figures, published by Kantar, show year-on-year supermarket sales were flat during the 12 weeks to 11 August 2019 as the tough comparisons with 2018’s strong summer continue. The memory of last year still looms large for retailers and this summer’s comparatively poor weather, combined with low levels of like-for-like price [...]...
  • Nestlé UK Launches New On-trend Flavours Nestlé has introduced two new on-trend flavours to its much-loved Munchies brand in the UK and Ireland. Available in 101g sharing bags, new Munchies Chocolate Fudge Brownie and Munchies Cookie Dough are the first new Munchies products since 1996. The new flavours were created at Nestlé’s confectionery sites in York and Fawdon, Newcastle. Munchies Brand Manager [...]...
  • Dedicated Industry Forums Take on Packaging’s Hottest Topics Experts from major brands, such as Coca-Cola, Ella’s Kitchen and REN Clean Skincare, will take to the stage as part of the dedicated industry forums for the beauty, food and drink sectors at Packaging Innovations and Luxury Packaging London 2019. The show, which returns to Olympia on 11 & 12 September, will tackle the key subjects [...]...
  • Greene King Being Sold For £2.7 Billion CK Asset, which is one of the largest property developers in Hong Kong and an international investment group, has made a recommended £2.7 billion cash offer for Greene King, the UK’s leading integrated brewer and pub retailer operating over 2,700 pubs, restaurants and hotels across England, Wales and Scotland. Including debt, the enterprise value of [...]...
  • The Hershey Company Takes Minority Stake in Irish Snacking Brand The Hershey Company, the US-based food group, has made a minority investment in Fulfil Holdings, the owner of the snacking brand FULFIL. Headquartered in Dublin, Ireland, FULFIL has rapidly grown since its inception, now outselling many traditional chocolate snack bar brands in the UK and Ireland and named a top 50 consumer brand in Ireland. Brian [...]...

R&R Ice Cream Makes Australian Acquisition

R&R Ice Cream Makes Australian Acquisition
June 03
15:57 2014

R&R Ice Cream, Europe’s leading supplier of own-label ice cream, is acquiring Peters Food Group, one of Australia’s oldest consumer businesses, from Pacific Equity Partners (PEP). The terms of the deal are not disclosed.

Under the agreement, R&R will acquire Peters, with its portfolio of household name ice creams including Drumstick, Connoisseur, Peters Original and Maxibon. PEP purchased Peters from Nestlé in 2012. Since the acquisition, Peters has undergone a significant transformation driven by investment in its core brands, substantial new product development and improvement in operating costs. It generates annual sales of about A$269 million (€190 million).

In addition to its own label business, R&R has a strong branded portfolio incorportating the Mondelez and Nestlé brands (including Cadbury Dairy Milk, Oreo, Milka, Smarties and Kit-Kat) as well as brands such as Disney, YooMoo frozen yogurt and Kelly’s of Cornwall. Revenues for the year ending 31 December 2013 were approximately €681 million. R&R operates nine production sites across the UK and mainland Europe.

R&R is fully committed to continuing to invest in Peters and the Company’s long history of innovation. The existing Australian executive leadership team will continue to develop the Peters business locally and as a part of the broader global R&R business.

By combining the two companies, R&R is further establishing its position as a world leader in the ice cream manufacturing market with a unique presence both in the European and Australian markets and significant increased potential for international expansion.

Ibrahim Najafi, chief executive of R&R, says: “We are delighted to have come to an agreement with Peters and PEP. Peters is an iconic Australian business and the leader in the Australian ice cream manufacturing market; it will be an exciting complement to R&R’s European presence.”

 

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements