Roma Meals, a free-from plant-based pasta and snacks manufacturer in Australia, is exploring marketplace pastime for a sale of the industry to check out to boost up enlargement.
Circle of relatives-owned Roma Meals, working out of a unmarried facility in Carrum Downs, Victoria, has employed Sydney-based monetary products and services company MA Moelis Australia to “canvas marketplace pastime and transient possible buyers so as to a sale”, the corporate mentioned.
With revenues expected to “exceed” AUD35m (US$26.5m) in Roma Meals’ new monetary 12 months, which began in April, the corporate mentioned it’s making an investment in new plant and gear to “considerably extend manufacturing functions”.
Based in 1953, the corporate manufactures plant-based, gluten- and allergen-free pasta, biscuits, crispbreads, breakfast cereals, baking mixes and truffles.
Roma Meals, owned by means of the Buontempo circle of relatives, used to be the topic of an “unsolicited be offering” final 12 months however CEO Sam Schachna declined to supply any main points when contacted by means of Simply Meals, nor expose historic revenues instead of to mention they have got grown double-digits over the last two years.
Moelis is anticipated to finish its marketplace explorations by means of “early” in Roma’s new monetary 12 months.
Roma’s manufacturers come with Orgran, Buontempo, Pasta Roma, Spliits and Freemills. The corporate provides retail and foodservice consumers, in addition to private-label shoppers. It additionally exports to 70 nations.
In Australia, Schachna showed Roma Meals provides Woolworths, Coles and discounter Aldi. Additional afield, it ships to america, with an inventory for Orgran in Sprouts Farmers Marketplace, and New Zealand with a placement for the Spliits logo in Woolworths.
“As the method with Moelis has handiest simply begun, it’s too early to speak in concrete phrases concerning the most probably consequence,” Schachna added. “At this level, we’re dedicated to seeing what discussions eventuate throughout the procedure with Moelis, after which inspecting the ones on a case-by-case foundation. We’re open to a variety of eventualities that can easiest place Roma Meals to grab long run alternatives in Australia and the world over.”
Schachna joined Roma Meals in January 2020. Its allergen-free credentials come with gluten, dairy, nuts, yeast, egg and soy.
He mentioned the longer term goal is to “benefit from converting marketplace emphasis in opposition to in the community manufactured, prime enlargement, plant-based and allergen-free meals”.
Within the commentary saying the appointment of Moelis, managing director Max Buontempo mentioned: “Following an unsolicited be offering for Roma Meals throughout 2021, the administrators determined the time is true to adopt a proper procedure to check marketplace pastime within the industry. The method will examine a variety of choices for the way forward for Roma Meals, together with a 100% industry sale.”
He added: “With a confirmed monitor report of enlargement and profitability over a few years, Roma Meals is a stupendous alternative for funding or acquisition.”
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