Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Push Accelerates With Pastryhouse Acquisition

17 January 2006

Foodservices Push Accelerates With Pastryhouse Acquisition

Fonterra's push into the rapidly expanding foodservices sector has continued with the co-operative's acquisition of Auckland bakery The Pastryhouse.

Fonterra Global Foodservice Director George Zoghbi says The Pastryhouse's range of products will complement Fonterra's existing global foodservices businesses. The Pastryhouse makes quality ready-to-use products, high in dairy content, with a reputation for good taste and consistency, which meet the demands of foodservice customers and which have the potential for international expansion.

"The Pastryhouse is a small but significant 'stepping stone' acquisition which fits well with Fonterra Foodservices' growth strategy into the ready-to-use range. In New Zealand and Australia we are the only business to offer foodservice customers every dairy segment. The Pastryhouse enables us to further expand the boundaries of dairy."

The acquisition is being made through Fonterra subsidiary Tip Top, which is buying The Pastryhouse from its three shareholders.

The Pastryhouse makes croissants and danish pastries and sells them mainly to supermarket inhouse bakeries, hotels and other foodservice customers. The major growth opportunities under Fonterra ownership will be in Australia and Asia, taking advantage of Fonterra's ability to supply Anchor butter ingredients, and leveraging Fonterra's existing presence in these markets.

Tip Top's expertise in frozen food manufacturing and short-run capabilities with a wide product range make it a natural "home" for The Pastryhouse, which will continue to operate on a standalone basis, but with access to Tip Top's expertise, said Mr Zoghbi.

"Some of the opportunities we will explore include augmenting the company's products with dairy-based fillings and rebranding as Anchor in Asia. Pastryhouse products in Australia are already branded with the leading Western Star butter name under a distribution agreement with Fonterra Brands (Australia). We expect that relationship to be strengthened with Fonterra's full ownership."


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news