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PFD Food Services purchases Australian Convenience Foods Group


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21 September 2012:  Leading food service company PFD Food Services Pty Ltd (PFD) has purchased the business and assets of Australian Convenience Foods Group Pty Ltd (Administrators Appointed) (ACF).

The sale was completed today and follows the appointment of Voluntary Administrators Vaughan Strawbridge, David Lombe and John Greig of Deloitte on 28 August 2012.

PFD will assume control of all ACF facilities in Queensland, New South Wales, Victoria, South Australia and Western Australia on 22 September and has offered positions to the majority of ACF’s approximately 370 employees.

Joint Voluntary Administrator Vaughan Strawbridge said it was a great result to be able to keep the whole of the business intact and retain jobs for the majority of employees.

“The food service industry is highly competitive, on both the supply and customer side,” he said.

“Following our appointment, we continued to trade ACF, which had been losing money. Achieving the sale quickly has kept the business together which has been key to retaining value and jobs.”

ACF employees who transfer to the new owner will do so on the same terms and conditions and PFD will also take on their employee entitlements.

PFD Executive Chairman Richard Smith said: “The convenience food market in Australia is a fast growing sector and we are extremely pleased to have Australian Convenience Foods, which has a strong national presence in that market, as part of PFD. The acquisition provides us with considerable opportunities to deliver mutual benefit to both businesses, their employees, customers and suppliers.”

PFD was established in 1943 and is today Australia’s largest privately-owned food service company, distributing food products and related consumables to restaurants, hotels, cafés and large corporate customers throughout the country. PFD has approximately 2,000 employees, 58 strategically located distribution centres, a fleet of over 540 delivery vehicles and an annual turnover of approximately $1.3 billion.

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Contacts

Name:
Vaughan Strawbridge
Company:
Deloitte
Job Title:
Partner, Restructuring Services
Phone:
+61 2 9322 5539
Email
vastrawbridge@deloitte.com.au
Name:
Simon Rushton
Company:
Deloitte
Job Title:
Corporate Affairs and Communications
Phone:
Tel: +61 2 9322 5562; M: +61 450 530 748
Email
srushton@deloitte.com.au

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