Sydney-based food service and cooked meat supplier, Andrews Meat Industries (AMI), has bought a sizeable stake in premium meat marketer, White Stripe Foods.
The acquisition follows AMI’s significant period of growth since JBS Australia became its majority shareholder in 2014.
White Stripe Foods, also based in Sydney, at French’s Forest, sells branded, high quality meat cuts to leading hotels, restaurants, food service distributors, retailers, caterers and manufacturers primarily in Asia and the Middle East.
The company will continue to trade under its own name in the international markets and manage its business operations.
With AMI’s capabilities increasing rapidly, this was the perfect opportunity to expand our scope and offering
Andrews Meat chief executive officer, Peter Andrews, said the acquisition would expand on AMI’s distribution capabilities in export markets.
AMI has three key divisions catering to food service, cooked meal and export customers.
It supplies restaurants and cafes, clubs and resorts, plus aged care, education, aviation, and sports venue markets.
“White Stripe Foods has significant market strengths with long-standing clients in 30-plus countries, and in some cases, providing local representation which has scope for growth,” Mr Andrews said.
“The company has a successful business model, which we can tap into as we build distribution into the export markets.
“With AMI’s capabilities increasing rapidly, and increased revenue in our core business sectors, this was the perfect opportunity to expand our scope and offering.”
Strong market history
White Stripe managing director, Matt Lyne, agreed, pointing to his business’ strong history of managing supply relationships in its core markets.
“So combined with AMI’s experience in production, food service and value-add cooked product, this transaction ensures we can offer to the market enhanced quality product and our leading service,” Mr Lyne said.
AMI has been part of the global JBS business since mid 2014.
At that time, the Andrews family sold a majority shareholding to JBS Australia, forming a partnership.
The family continues to manage Andrews Meat Industries operations.
AMI's $40m upgrade spend
JBS Australia CEO, Brent Eastwood, said both the more than an $40 million had been invested in expanding and upgrading the in the rapidly growing AMI business by the Andrews family and JBS in the past four years.
Highlights included company’s the state of the art facility in Sydney for portioning, cooking and sous vide meal solutions.
“Integrating AMI’s significant food service and value-add production capabilities with White Stripe Foods’ extensive customer base and global network will be a recipe for success,” he said.
“We look forward to seeing the partnership grow.”
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The story Andrews Meat Industries cooks up deal with White Stripe first appeared on Farm Online.