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 Can we get some dna testing done on the pie filling going forward?
hijessicayun I refuse to support them now, so sad 😭
hijessicayun Chinese pies...that'd me done!
hijessicayun In other words sold to china….