Another iconic Australian brand has been snapped up by an overseas buyer.
Patties Foods has sold Four’N Twenty to Hong Kong investment firm Pacific Alliance Group (PAG). Patties also owns Nanna’s, Herbert Adams, Chefs Pride and Boscastle brands.
PAG also bought Vesco Foods, best known for Lean Cuisine ready meals.
The Sydney Morning Herald reports that the Four’N Twenty sale went through for an estimated $500 million.
Read: Why ‘best before’ dates are not best for your budget
Patties chief executive Paul Hitchcock said the sale was “recognition” of the reputation of the brand.
“The acquisition presents a significant opportunity for Patties Foods, unlocking further investment into market-leading innovation, well-known brands and manufacturing capabilities,” he said in a statement.
Other Australian labels recently sold to overseas interests include Tassal, Arnott’s, Foster’s, Uncle Tobys and bread manufacturer Goodman Fielder.
Possibly the only big reversal of this trend is when Bega bought Vegemite in 2017, returning the brand to Australian hands for the first time in decades. Bega also bought back Big M, Pura Milk and Yoplait from Japanese conglomerate Kirin in 2020.
Read: Shoppers the winners in war over supermarket prices
This week’s deals
Coles
Sensible: Coles has launched another glassware credits campaign. It’s the usual deal, $20 gets you one credit and you have the option of using credits plus cash to redeem products. It’s a perfect way to top up your glassware for anyone like me who is a little clumsy anyway and finds that glassware plus alcohol equals accidents.
Indulgence: Lamb loin chops, $22/kg. In Australia, spring means lamb. Great deal from Coles on loin chops. Perfect grilled with a little salt and pepper or with a pesto sauce.
See the catalogue here.
Woolworths
Sensible: Another spring favourite – asparagus, $2.50 a bunch. Thankfully we’ve come a long way from the only asparagus being white, watery and in a tin. Fresh asparagus is quick and easy to cook and takes on other flavours well. Fine steamed or on a grill.
Indulgence: Lavazza Espresso Barista Coffee Beans, $19, save $19. Australians are a bit bonkers about their coffee and this brand compares well as a supermarket offering, plus at a $19 discount I’m tempted to take up coffee drinking just for the savings.
See the catalogue here.
Read: Right royal problem on Australian supermarket shelves
Aldi
Sensible: Broad Oaks Farm chicken drumsticks, $3/kg. Great value and a party favourite. Roast them, barbecue them, stick them in a casserole.
Indulgence: Bratwurst, $3.99 a pack. Looks weird, tastes great. It’s the German equivalent of a Bunnings sausage as it’s traditionally eaten as a snack in a white bread roll. Makes a fancy addition to your next barbecue.
See the catalogue here.
IGA
Sensible: Sunrice Medium Grain white or brown, $4.90, save $2.80. Good for rice dishes that need a little extra punch like paella and risotto. Also makes an excellent rice pudding.
Indulgence: Darrell Lea chocolate block, half price at $2.50. I’m a big fan of the Darrell Lea chocolate block range. I mean, why hasn’t anyone thought of making liquorice bullet chocolate blocks before? Seems like a no-brainer. Buy two since they’re half price.
See the catalogue here.
Are you bothered by overseas interests buying famous Australian brands? Does it affect your purchasing decisions? We’d love to hear your thoughts in the comments section below.
