AUSTRALIA | Retail Food Group Limited has marked a significant milestone in its growth journey by acquiring Beefy's Pies, a beloved Australian brand with a rich heritage spanning 26 years. The $10 million deal expands RFG's brand portfolio and also signals the commencement of the company's growth phase.
RFG CEO Matt Marshall expressed his satisfaction with the company's position to explore inorganic growth opportunities, emphasising the strategic significance of Beefy's acquisition.
"This acquisition is significant not only because it is a great business complementary to our existing brand portfolio, but Beefy's Pies becomes integral to RFG's expanding family of food and beverage brands," said Marshall.
He extended his anticipation for collaborative efforts with the Hobbs family and all Beefy's employees to make the iconic pies accessible to more Australians.
Beefy's Founder and CEO, Mark Hobbs, expressed pride in the achievements of the family-owned business, which has become a much-loved Australian brand. With nine strongly performing stores across Queensland and a manufacturing facility on the Sunshine Coast employing 180 people, Beefy's has been a standout in the culinary landscape. Hobbs sees joining the RFG network as the next step in Beefy's growth journey, benefiting from a larger group's vast retail experience and support functions.
Despite the acquisition, the collaboration between Retail Food Group CEO Matt Marshall and Beefy's Pies CEO Mark Hobbs will continue, ensuring a seamless transition and continued success. Hobbs will play an advisory role during the first year, maintaining standards and providing support to uphold the quality and tradition that Beefy's is known for.
RFG has affirmed that there will be no immediate changes to Beefy's team, business operations, or supply partnerships. The award-winning pie company, known for its top-notch creations that have claimed gold at the Official Great Aussie Meat Pie competition, remains a culinary institution with a promising future under the RFG umbrella.
As RFG embarks on this new growth phase, the acquisition of Beefy's Pies is a celebration of culinary excellence and a commitment to delighting more Australians with the iconic taste of Beefy's Pies. The industry looks forward to witnessing how this strategic move shapes the future of both brands in the evolving landscape of the Australian food and beverage market.
