Pure Foods Tasmania (PFT) has completed the acquisition of Elato Ice Cream, with Elato founder to join PFT as general manager – Ice Cream Division.
Under the transaction, PFT acquired all intellectual property, brand assets, recipes and supply arrangements relating to Elato Ice Cream for an initial $50,000 in PFT shares, with up to four million additional shares tied to revenue and profitability milestones.
The acquisition establishes PFT’s new Ice Cream Division, combining Elato with The Cashew Creamery to form a multi-brand platform in the premium dairy and plant-based frozen dessert category.
Elato founder Roz Kaldor-Aroni has joined PFT as general manager – Ice Cream Division, responsible for sales growth, product development and manufacturing optimisation. PFT will leverage Kaldor-Aroni’s industry experience to pursue contract-packing and licensing opportunities, maximise the use of existing ice cream manufacturing assets, and expand the company’s commercial reach.
“The acquisition of Elato after only four years in the market, is validation that award-winning products which focus on innovation and community support are appealing to not only the ice cream buying public but also to like-minded innovators like PFT,” said Kaldor-Aroni.
Integration work is underway, and the company plans to consolidate production in Tasmania while exploring new retail, licensing and contract-packing opportunities. The relocation is expected to create at least three new skilled jobs in southern Tasmania, with potential for additional hires as the business expands.
The Ice Cream Division will be officially presented at PFT’s upcoming Annual General Meeting, where Kaldor-Aroni will join management to showcase the division and introduce new product initiatives to shareholders.
“I am excited to be working with PFT, and we already have a range of new products planned,” said Kaldor-Aroni.