Iconic Aussie food brands Four’n’Twenty, Lean Cuisine sold to Hong Kong investment giant

A stable of iconic Australian food brands including Four’n’Twenty pies and Lean Cuisine meals have been sold to the Hong Kong private investment firm that already owns fast food chains Red Rooster and Oporto in a $500 million-plus deal.

The terms of the deal were not disclosed, but a source familiar with the sale said the price exceeded $500 million. Patties Foods’ chief Paul Hitchcock said PAG’s acquisition was a “clear sign” that the buyout firm believed in Patties’ business and growth strategy. Vesco boss Bernie Pummell said being acquired by PAG would help Vesco build on its success as well as “enable new exciting opportunities through the combination of Patties and Vesco”.

hijessicayun Well, they can’t make that shit any worse.

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Iconic Aussie food brands Four’n’Twenty, Lean Cuisine sold to Hong Kong investment giantAustralia’s quintessential pie brands are being sold to a $75 billion Hong Kong private equity firm that already owns Red Rooster, Oporto and The Cheesecake Factory. hijessicayun In other words sold to china…. hijessicayun Chinese pies...that'd me done! hijessicayun I refuse to support them now, so sad 😭
Source: smh - 🏆 6. / 80 Read more »

Iconic Aussie food brands Four’n’Twenty, Lean Cuisine sold to Hong Kong investment giantAustralia’s quintessential pie brands are being sold to a $75 billion Hong Kong private equity firm that already owns Red Rooster, Oporto and The Cheesecake Factory. hijessicayun In other words sold to china…. hijessicayun Chinese pies...that'd me done! hijessicayun I refuse to support them now, so sad 😭
Source: smh - 🏆 6. / 80 Read more »