Queensland-based foodservice wholesaler Prime Cut Meats has been purchased by Andrews Meat Industries, a family-managed business that is part of the JBS Australia food group.
Andrews Meat Industries is expanding its foodservice protein supply capabilities by welcoming Prime Cut Meats into its group. This move continues the growth of Andrews Meat Industries and is expected to take the operation to a forecast turnover of more than $650 million in the coming financial year.
Andrews Meat Industries CEO Peter Andrews said the acquisition will add value to Prime Cut Meats’ reputation for quality and service by enabling expanded product and distribution capability in the Queensland and northern New South Wales foodservice markets.
“This is a natural fit for both businesses, and we’re all pleased that the Prime Cut Meats team is uniting with the Andrews Meat family,” said Andrews.
Prime Cut Meats supplies premium meat products to hospitality venues across Brisbane and wider Queensland, including restaurants, hotels, food service providers and caterers.
“Prime Cut Meats started in 2007 with a philosophy of providing the best cuts to chefs in Brisbane. It has been an outstanding venture that has progressively grown and developed in the years since, and AMI is the ideal strategic next step for the business,” said Prime Cut Meats manager Laurie Marguglio.
“As the Queensland foodservice market expands, this was the perfect opportunity for Prime Cut Meats to join with a similar business that appreciates what we have built in terms of service and reputation, while growing the capability of what can be offered to our clientele,” added PCM manager Nick Zanapalis.
JBS Australia CEO Brent Eastwood said the acquisition aligns with JBS’ strategy to strengthen its position as a food solutions provider in Australia.
“This initiative demonstrates JBS’ commitment to investing in businesses that share our focus on quality, service, and customer relationships,” Eastwood said.
“By supporting Andrews Meat Industries and Prime Cut Meats, we are enhancing our ability to deliver premium protein solutions across the eastern seaboard and reinforcing JBS’ role as a trusted partner to the foodservice industry.”
Andrews Meat Industries joined the JBS Australia group in July 2014 when the Andrews family sold a majority shareholding of their approximately $95 million operation to form a business that is now forecast to reach more than $650 million across domestic, export and cooked food divisions.