M&A Deal Summary

Patties Food Group Acquires Vesco Foods

On January 1, 2023, Patties Food Group acquired food company Vesco Foods from PAG

Acquisition Highlights
  • This is Patties Food Group’s 1st transaction in the Food sector.
  • This is Patties Food Group’s 1st transaction in Australia.

M&A Deal Summary

Date 2023-01-01
Target Vesco Foods
Sector Food
Buyer(s) Patties Food Group
Sellers(s) PAG
Deal Type Merger

Target

Vesco Foods

Osborne Park, Australia
Vesco Foods is a producer of frozen ready meals with a market position in the private label/contract manufacturing segments primarily servicing the Retail channel. Vesco Foods was founded in 1974 and is based in Osborne Park, Western Australia.

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Buyer(S) 1

Buyer

Patties Food Group

Mentone, Australia

Category Company
Founded 1966
Sector Food
DESCRIPTION

Patties Food Group is a provider of frozen savoury and frozen dessert pies, with key products including meat pies, sausage rolls and fruit pies. The company is known for some of Australia’s best-loved brands, including Four’N Twenty, Herbert Adams, Boscastle and Nanna’s, and Leader. Patties Food Group was founded in 1966 and is based in Mentone, Victoria.


DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Merger M&A Deals 1 of 1
Country: Australia M&A 1 of 1
Year: 2023 M&A 1 of 1

Seller(S) 1

SELLER

PAG

Hong Kong, China

Investor Investor Investor


Category Asset Manager
Founded 2002
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

PAG is a large independent alternative investment management group focused on private equity, real estate, and absolute returns. PAG’s private equity business, PAG Asia Capital or PAGAC, focuses on large-scale buyouts, control deals, and structured minority investments. PAG’s real estate strategy manages a series of real estate opportunity and core plus funds investing in properties in Japan, China and throughout Asia-Pacific. PAG’s absolute return business focuses on building long term relationships with its partners by offering a flexible range of financing solutions to meet short and long term funding needs. PAG was formed in 2002 and is headquartered in Hong Kong.


DEAL STATS #
Overall 3 of 3
Sector: Food M&A 1 of 1
Type: Merger M&A Deals 3 of 3
Country: Australia M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-20 Shandong Fengxiang

Liaocheng, China

Shandong Fengxiang engages in the research and development, processing, and sale of chicken meat products from white-feathered broilers in China. It offers processed chicken meat products, raw chicken meat products, chicken breeds, and other products. Shandong Fengxiang was founded in 2010 is headquartered in Liaocheng, China.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-13 RK Pharma

Pearl River, New York, United States

RK Pharma is a fully integrated generic pharmaceutical company that develops complex API and injectable finished dosage products. RK Pharma was founded in 2018 and is based in Pearl River, New York.

Buy -