British company buys Australian dips manufacturer Yumi’s
26 Sep 2018
George Weston Foods (GWF) has acquired Australian dips manufacturer Yumi’s Quality Foods for an undisclosed amount from Anacacia Capital, Sydney-based private equity firm.
GWF, which also owns Tip-Top bread and Don smallgoods, is a wholly owned subsidiary of UK-based Associated British Foods.
According to the Sydney Morning Herald, Yumi’s production site is capable of producing 100 tonnes of dip a week and the company has secured distribution in major Australian supermarkets, including Costco.
Anacacia managing director Jeremy Samuel told the Herald that Yumi's continued product innovation and global outlook helped make it attractive to ‘large players’ such as GWF.
‘The export business has grown significantly off a small base – they are now [selling] throughout South East Asia, Singapore, Thailand and Malaysia,’ says Samuel.
Yumi’s was founded in the early 1990s by the Friedman brothers Benjamin (Yumi) and his brother Michael. Its offers kosher non-dairy and gluten-free dips, aiolis, vegetarian snacks, mayonnaise and smoked fish for everyday consumption and entertaining.
GWF is one of Australia and New Zealand’s largest food manufacturers employing over 6,000 people across more than 50 sites. It is a wholly owned subsidiary of London Stock Exchange-listed Associated British Foods, a diversified international food, ingredients and retail group with operations across 50 countries, employing over 133,000 people.