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Simplot Australia has acquired full ownership of John West Foods, acquiring the remaining 50% of the business from Archer Capital.
John West Foods is Australia' s leading marketer and distributor of canned fish and canned seafood products, operating the JOHN WEST, ALLY and SEAKIST brands across Australia, New Zealand and the Asian region.
Simplot Australia and Archer Capital jointly acquired the business in 2003 from Unilever, bringing together for the first time in Australia corporate and private equity expertise to enable Simplot to acquire in a two-stage process this strategically attractive asset. The purchase heralds a successful outcome for this pioneering private equity/corporate partnership transaction.
Simplot Australia's Managing Director, Terry O'Brien said "With the purchase of this remaining stake, Simplot Australia will assume 100% ownership of this great brand and business for the Australasian and Asian regions. This will greatly improve our profitability and give us the flexibility to take these brands on to their next stage of development and success."
October 2005
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