Incubation fund for Tasmanian food and beverage industry

Pure Foods Tasmania is establishing an incubation fund to assist start-up partner companies, operating in the Tasmanian premium food and beverage industry, by providing both financial support and investment, coupled with strategic advice and guidance.

PFT aims to identify and nurture businesses that PFT believes have potential to become high growth businesses, similar to Woodbridge Smokehouse, Tasmanian Pate or Daly Potato Company.

Following a detailed due diligence period, partner companies that meet PFT’s stringent assessment criteria will receive financial support through equity investments, coupled with strategic advice from PFT’s Board and management team.

The fund aims to commercialise products from partner companies that have the ability to be produced on a scale to serve customers nationally and/or internationally. Growth can be accelerated by leveraging PFT’s established customer and distribution network, and thereby providing significant opportunities and benefits to PFT and the partner companies.

“We are very excited to have established the Incubation Fund as it will provide the Company with opportunities to identify, invest in and nurture potential high growth Tasmanian start-ups, operating in the food and beverage market,” said PFT managing director, Michael Cooper. “By providing partner companies with strategic advice, PFT aims to not only accelerate growth, but gain a solid understanding of the potential of the businesses, thereby opening opportunities for the company to increase its holdings in partner companies through increased equity investments. We look forward to establishing the Investment Fund in the near future and updating the market on our first investments.”

PFT aims to work alongside the board and management of partner companies to develop proprietary products and unique IP, before formulating and implementing well defined commercialisation strategies, based on PFT’s proven track record and industry knowledge. PFT aims to make initial investments into approved partner companies, assess potential growth strategies, and based on successful implementation, milestones and mutually agreed outcomes, to potentially acquire a significant holding in, or entire ownership of, successful partner companies.

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