PAG (Hong Kong, backed by Blackstone) → Patties Foods and Vesco Foods
completedDeal announced2022-09-15
BuyerPAG (Hong Kong, backed by Blackstone)
SellerPatties Foods and Vesco Foods
SectorFood Manufacturing
ValueUndisclosed
Deal typePE
PAG, a Hong Kong-headquartered investment firm, agreed to acquire Australian frozen-food manufacturers Patties Foods (Four'N Twenty, Nanna's, Herbert Adams) and Vesco Foods (On the Menu, Lean Cuisine licensee), subject to regulatory approval.
Why the buyer wanted it
PAG was building out an Australian consumer/food investment portfolio (alongside The Cheesecake Shop, Craveable Brands and others) and wanted established, long-running Australian snack and frozen-meal brands.
Why the seller agreed
Not publicly disclosed.
Stock reaction
Not applicable — both companies privately held.
Deal mechanics
Deal structure
Not publicly disclosed