Patties Foods Limited (“Patties”), an iconic Australian food manufacturer, has announced the acquisition of Leader Products (“Leader”), a manufacturer of quick, easy, frozen convenience food products based in New Zealand.
Leader was established by Tony Peterson and Richard Crabb in 1998 and over the last 18 years the business has emerged as a market leader in New Zealand in addition to exporting to Australia and Asia. The company has doubled revenue in the past five years.
Peterson will continue to drive the company’s growth strategy in his role as Managing Director and will maintain a stake in the combined business.
Leader’s product range includes meatballs, burger patties, toppas, finger foods and meal solutions under the brands Leader, Tony’s Tucka and Kauri Coast. Leader supplies cafes, hotels, restaurants and caterers along with grocery retailers, distributors, and sporting stadiums in New Zealand, Australia and Asia.
Paul Hitchcock, CEO of Patties, said that Patties and Leader were natural partners – both focused on manufacturing high quality frozen foods with iconic brands. These include in the Patties portfolio Four’n Twenty, Patties, Herbert Adams, Nanna’s and Chef’s Pride.
Mr Hitchcock said: “We are delighted to be joining forces with the Leader team. We believe the combination of Patties and Leader will provide significant growth opportunities for both companies given our complementary savoury meals and snack products, manufacturing operations and sales footprints. This deal will create a market-leading food business across Australia and New Zealand.
