Ramen noodle king Nissin Foods Company Ltd. of Japan bought Australia’s ABC Pastry, a maker of frozen dumplings, both branded and private label, from the Gaoyang Family and Min Investments. Price was $33.7 million Australian dollars, or about US$23 million.
ABC Pastry, which had sales of US$10.5 million in the year ended June 30, will become a wholly owned subsidiary of Nissin. The company was started in 1998 by a husband and wife who moved to Australia from China.
Observers were calling it an entrée for Nissin into the Australian and New Zealand markets for frozen foods, especially Asian foods, particularly among the Asian populations in those countries.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.