Nissin Foods has signed a Share Sale and Purchase Agreement to acquire the Australian frozen food manufacturer.
The company, ABC Pastry, is based in Sydney and manufacturers frozen dumplings, offering both its own and third-party branded products.
The acquisition is valued at AU$33.7 million, and upon completion ABC Pastry will become a wholly owned subsidiary of Nissin Foods, focusing on the frozen food market and serving retailers across Australia.
Nissin Foods anticipates that its expertise as a publicly listed company will enhance ABC Pastry’s operational and financial management, supporting its long-term growth and diversifying Nissin Foods’ business portfolio.
This acquisition is seen as a strategic move for Nissin Foods to enter the expanding Australian frozen food market.
Demand for frozen dumplings is increasing, driven by rising Asian migration to Australia and a growing preference for convenient, high-quality frozen foods. The Group expects significant opportunities for growth in the premium frozen food sector in Australia.
‘The acquisition of ABC Pastry marks another milestone in our overseas market plan, soon after the joining of the Korean snack manufacturer Gaemi Food to the Nissin family in June,” said Kiyotaka ANDO, executive director, chairman and CEO of Nissin Foods.
“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.
“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.”