Menora Foods to be acquired by Monde Nissin
Australian food marketing and distribution business Menora Foods is reportedly set to be sold to Filipino food conglomerate Monde Nissin Corporation.
Menora was established in Melbourne in 1967 and is Australia’s largest privately owned food marketing and distribution business.
Menora grew to become a national leader in fast moving consumer goods in Australia and international markets. The Company owns and distributes some of Australia’s favourite and most trusted brands and its range extends across the Bakery, Chilled, Confectionery, as well as General Merchandise and other Grocery categories.
Menora owns the power brands Wattle Valley and Peckish. Menora also markets and distributes some of Australia’s most trusted brands including: Bonne Maman, Maille, Chobani, Huon, Cobram Estate, Pitango, Kez’s Kitchen, Saxbys, Griffiths Coffee, La Casa Del Formaggio and Philips Lighting.
It has been reported that Monde Nissin is set to pay about $55 million for Menora Foods.
Australian Food News reported in August 2014 that Menora Foods had received unsolicited approaches from several third parties seeking to purchase the business, which had prompted the Company to undertake a strategic review.
Monde Nissin acquisition follows its Black Swan dips acquisition
The Menora Foods acquisition is an expansion for Monde Nissin beyond the Australian dips and snack foods category. In July 2014, Monde Nissin acquired Australia’s third-largest dip brand Black Swan for $115 million, after the business was put up for sale in January 2014.
There is also speculation that Monde Nissin might be a potential buyer of the Australian juice company Nudie.
Recent movements in Australian dips category
According to market research organisation Nielsen’s ‘Retail World Grocery Guide 2012’, the Black Swan brandand its then associated company Poseidon dominated the chilled dips category in Australia at that time. However Yumi’s Seafoods brand was growing rapidly by value share and by percent volume share although less than 10% of the total Australian market.
Australian Food News reported in January 2014 that private equity firm Anacacia Capital had invested in Australian dips manufacturer Yumi’s, saying it was a “standout” in terms of potential in the Australian dips category.
Other major players at that time in the then $180 million chilled dips category included Menora Foods (14.2 per cent value, 11.7 per cent volume), Goodman Fielder (12 per cent value, 10.5 per cent volume), Kraft (11 per cent value, 12.2 per cent volume) and Chris’ Greek Dips (10.6 per cent value and 12.2 per cent volume).