PAG, an investment firm focused on the Asia-Pacific region, has announced it has entered into agreements to acquire Patties Foods (Patties) and Vesco Foods (Vesco), subject to regulatory approvals.
Patties, with its origins dating back over 50 years, has a portfolio of leading brands, including Four’N Twenty, Patties, Herbert Adams, Boscastle, Nanna’s and Leader.
Vesco, is a producer of high-quality frozen foods for almost 50 years. Its brands include On the Menu, Super Nature, Lean Cuisine, Annabel Karmel and Jarraballi. Vesco also provides commercial food services under the 7 Star, Clever Cuisine, and Enrico’s brands.
“This transaction enhances the strength of our business in Australia and New Zealand. We are excited about this unique opportunity to take some of Australia and New Zealand’s best-loved brands to the next level. Over the past few years, PAG has had the privilege of working with several leading Australian companies, and we are looking forward to putting that expertise to work in support of Patties and Vesco, and helping them provide the highest quality products to consumers across Australia, New Zealand and beyond,” said Sid Khotkar, Managing Director and Head of PAG Private Equity in Australia and New Zealand.
PAG’s previous investments include Red Rooster, Oporto, The Cordine Group and The Cheesecake Shop.
