PFD Food Services has bought troubled company Australian Convenience Foods Group (ACF) after the ready-to-eat food manufacturer went in to voluntary administration.
PFD’s chief executive Kerry Smith said the intention is to expand ACF’s business of supplying sandwiches and microwavable products for service stations and convenience stores across Australia, ninemsn reported.
“We see there are some synergies between ACF and PFD”, Smith told AAP on Tuesday.
"Our strategy when we acquire a business is to grow it.
"We have a customer base that can use products produced by ACF."
The purchase comes as good news to the 370 employees of ACF with little to no job losses suspected to come from the move.
As Food Magazine reported in early September, the ACF had been running at a loss for the last few years prior. However, Smith was optimistic about the merger.
"It's not going to happen overnight (but) we believe we can get it to an improved profitability reasonably quickly," Ms Smith said.
PFD will assume control of ACF's seven fresh and frozen food operation sites in Victoria, NSW, Western Australia, South Australia and Queensland