20 November 2006

Bartter Enterprises acquires remaining share of Steggles Foods

Bartter Enterprises, owners of the iconic Steggles brand, today announced the acquisition of a further 50% in Steggles Foods, making it the sole owner of the business. Bartter Enterprises have held a 50% stake in Steggles Foods since 1999 and have purchased the 50% share held by OSI Foods for an undisclosed sum.

“The complete buy-out of Steggles Foods gives us total control over the frozen, value-added component of our business, which is a strong growth category in all the major supermarkets,” said Geoff Frost, CEO, Bartter Enterprises.

“This is a valuable opportunity to refocus the Steggles Foods capacity to capitalise on the significant successes we’ve achieved with our new frozen retail product offerings, which are all experiencing high demand, as well as further build on our value-added product range for the food service and restaurant trade markets.”

Bartter Enterprises manufacture and distribute fresh and frozen, whole and portioned chicken and turkey products nationally and will remain focused on this core product offering. Steggles Foods is a major value-adding producer supplying cooked, semi-cooked and further manufactured chicken and turkey products to the retail, food service and quick service restaurant channels.

Bartter Enterprises and Steggles Foods will maintain an ongoing relationship with OSI Foods, working collaboratively to meet all existing customer commitments.

ENDS


Media enquiries:
Simone Prideaux
Bartter Enterprises
02 8870 0038
0401 704 727
simone.prideaux@bartter.com.au