Dymocks acquires Paton’s nut confectioners
Dymocks has announced another acquisition in the food industry, purchasing Melbourne-based nut and confectionary maker Paton’s.
The purchase adds to Dymocks’ food portfolio, already including Arapala Macadamia Farms in NSW, and last year’s 80% share acquisition in sandwich bar franchise Healthy Habits.
Patons, who specialise in macadamia chocolates, are a Victorian-based company distributing worldwide. A spokesperson from Dymocks confirmed that the company will continue to operate largely unchanged, with former owner Craig Paton remaining as CEO, manufacturing remaining in Victoria, and only macro operating functions being consolidated. Dymocks also confirmed that there are currently no plans to integrate the food and book sale businesses.
Dymocks chief executive Don Grover has driven a diversification in Dymocks’ investment portfolio, stating that it is “currently in the market to add $100 million to its portfolio.”