Nisshin Seifun has agreed to acquire Australian baked products manufacturer Allied Pinnacle using funds advised by Pacific Equity Partners (PEP).
Financial details of the deal have not been divulged by both companies.
PEP managing director Tony Duthie said: “Allied Pinnacle is the leading flour, ingredients and baked products manufacturer in Australia and plays an important role in Australia’s food infrastructure. James, the management team and all the employees are to be congratulated on the business they have built.
“It is a good example of PEP’s investment approach of supporting world-class management teams to invest in safety, quality and innovation driving growth with our customers and superior investment returns for our investors.”
Nisshin is a Japanese flour milling company engaged in the production and sale of wheat flour, processed foods, healthy foods, biotechnology and pet foods by leveraging superior product development capabilities.
The acquisition of Allied Pinnacle is part of Nisshin’s international expansion strategy, which focuses on purchasing companies to use its product development capability and deliver value‐added products to customers.
Allied Pinnacle CEO James Ajaka said: “Nisshin’s global footprint and track record of continually investing in driving innovation perfectly match our strategy of delivering our unique technologies and products to markets around the world.
“The team and I are also grateful to Pacific Equity Partners for all their support and encouragement over the past four years, as we have heavily invested in bringing the Allied Mills and Pinnacle Bakery business together and turning the two into a world-class fully integrated business.”
Allied Pinnacle is an end-to-end bakery ingredient supplier with leadership positions across flour, premixes and prepared bakery products.
The company engages 1,300 people across its 14 manufacturing sites, national distribution network and head office in Rhodes.
