Pure Foods Tasmania Pty Ltd (PFT) was formed in 2015 with the aim to acquire, grow and develop premium food businesses in Tasmania. To date and in line with this strategy, PFT has acquired two businesses (which are held through separate wholly owned subsidiaries):
One of Australia’s largest pate businesses and supplier to many large retail outlets including Costco, Aldi and Woolworths. Tasmanian Pate has been operating since 1996; and
Woodbridge is a boutique producer of ultra-premium Tasmanian smoked salmon and trout and has been operating since 2004. Salmon and trout are sourced locally and then smoked and processed at Woodbridge’s purpose-built smokehouse and processing facility, located on a 25-acre apple orchard on the south-east coast of Tasmania.
Tasmanian Pate produces a wide range of premium pates in a variety of packaging sizes from 125g through to 1kg catering packs. Chicken liver is the principal ingredient in pate and Tasmanian Pate has a preferred supplier (due to proximity and availability of ‘free-range’ product) in Tasmania.
Tasmanian Pate’s principal customers are the major supermarket chains in Australia (Woolworths, Aldi, Costco, IGA).
From its facility, Woodbridge Smokehouse produces a range of hot and cold smoked ocean trout and Atlantic salmon products which are sold to a number of wholesale customers, as well as retail customers through its website. The business prides itself on using only natural 100% Australian ingredients and has established product and manufacturing links with Australian Made. Woodbridge’s products have won a range of awards and over 60% of its products are exported to Asian markets (principally Singapore and Hong Kong) and sold to high-end food services and retailers throughout Australia.
PFT’s growth strategy is twofold:
- organically grow its existing pate and Woodbridge product range and;
- grow via the acquisition of complementary businesses.
Organic growth will be achieved through increased penetration of existing markets, entry into new markets with a focus on exports and new product development. Significantly, the move to the new purpose-built facilities in Mornington, Hobart provides a platform for the Company to increase pate production, improve operating efficiencies, develop a range of new products and obtain an export licence to explore opportunities in overseas markets.
PFT also intends to grow through the acquisition of complementary businesses, with a focus on synergistic and similar premium food/ beverage businesses in Tasmania, as well as other complementary assets/businesses that align with its existing portfolio.
To view the full product range, see:
Malcolm McAully is an experienced company director having held roles over a diverse range of industry backgrounds such as financial services, energy generation, waste management, agribusiness, technology manufacturing, human resource management and food manufacturing.
Malcolm was the Chairman of ASX listed Pinnacle VRB Ltd (ASX:PCE) from 2004 to 2005, and remained Chairman when the company (following an acquisition) changed its name to Cougar Energy Limited (ASX:CXY) until 2013 when he resigned. Malcolm is also the Chairman of Chaucer Energy Limited which is seeking to list on ASX in 2020.
Malcolm has held various executive management positions including National Manager for MLC Life when owned by the Lend Lease Group. He holds a Master of Business and qualifications in accounting, business management, mediation, turn around management and GAICD. Malcolm’s primary focus is on strategic development, financial performance, corporate governance and investor relations.
Michael Cooper is currently the Managing Director of PFT. Michael has over 28 years’ experience in senior executive roles in the food and beverage industry. He was the CEO and later Managing Director of Juicy Isle Pty Ltd (JI) and recently sold his family interest to Myer Family Investments. JI was the largest supplier of organic juice in Australia to Woolworths, Coles and Costco.
He was also a Director (2012 to 2017) of Ausfec Ltd, a $550M revenue business. Ausfec was the major route to market distribution channel for global brands such as Cadbury, Nestle, Mars, Wrigley, Smith and SBA Snack Foods, Red Bull and V energy drinks. Michael is also a director of Brand Tasmania, a Tasmanian State Authority created under the Brand Tasmania Act 2018. Michael joined the PFT Board in February 2017 and was appointed Managing Director on a part time basis in October 2018 and full time from April 2019.
Alexander “Sandy” Beard
Alexander “Sandy” Beard is the former Chief Executive Officer of CVC Limited (ASX:CVC) (between 1991-2019). He has extensive experience with investee businesses, both in providing advice and in direct management roles, especially bringing management expertise to early-stage businesses.
Sandy has been a Director of numerous public and private companies encompassing 25 years, including being a Director of Eildon Capital Limited (ASX:EDC), Probiotec Ltd (ASX:PBP), US Residential Fund (ASX:USF), TasFoods Ltd (ASX:TFL), Lantern Hotel Group (ASX:LTN) and Centrepoint Alliance Limited (ASX:CAF). He also was chairman of the unlisted public company Shellfish Culture Limited.
Ken Fleming has extensive experience in capital markets and has held senior roles at Deutsche Bank, James Capel Australia and Tricom. He has also worked in the Australian public service and at KPMG. He is a Director of Shellfish Culture (oyster spat and oyster farming business), Castray Capital and TasmaNet (ICT company) in addition to his role as a non-executive director of PFT. He holds an honours degree in economics and post graduate qualifications in economics and finance and is also a Fellow of the Financial Services Institute of Australasia (FFIN).
Justin is a Principal and Director at Page Seager Lawyers. He specialises in governance, mergers and acquisitions, and corporate structures and restructures. Justin also has significant experience in finance and advising companies on raising capital by way of equity and debt. He also provides advice to companies on the ASX listing rules.
Justin has a first class honours degree in Commerce, a Masters in Law from the University of Melbourne and a Graduate Diploma in Applied Finance and Investment. Before joining Page Seager, Justin worked as in-house counsel for the investment banking division of Deutsche Bank in Sydney. Prior to working with Deutsche Bank, he was principal counsel in the institutional markets and investment division of National Australia Bank. He also worked for a number of years in the mergers and acquisitions team of Mallesons Stephen Jaques (now King & Wood Mallesons).