According to the AFR, Patties Foods has swallowed up South Australia’s Australian Wholefoods.
In what is looking very much like a pattern, Pacific Equity Partners (PEP), which bought out Patties Food in 2016 and then followed that up by buying Leader Foods, has now devoured Australian Wholefoods, thereby allowing it to push into additional categories of the food services sector.
Australian Wholefoods employs about 130 people and its says it produces more than 100,000 chilled ready meals every week.
The company has introduced a number of new product lines like Clever Cooks, a fresh-food brand free from artificial colours or preservatives.
The latest acquisition has triggered speculation that PEP will sell the combined food business it to Asian buyers, which, the AFR noted, have shown a “keen appetite for Australian food manufacturing assets in the last few years.”