For over 70 years, Australia’s largest maker of gluten-free food products has been operating under the name of Roma Foods. The company, which also produces other brands such as Orgran, is putting itself up for sale.
The company is on track to achieve annual sales of over $35 million in the next year. It attributes its success to the increasing number of Australian consumers and the ability to source locally.
Roma Foods said the company was able to increase its sales during the pandemic due to the increasing number of people consuming healthy food at home.
The company was established in 1953 and was owned by the Buontempo family. It has been working with investment banks to explore its options following an unsolicited bid last year.
According to company, it was not the first time an outside party made a bid for the Roma Foods.
The company, which also makes the popular Spliits crispbreads, employs about 100 people.
The company had implemented price rises in the past year. However, they would not provide an estimate.
Despite the price increases, the company has not yet implemented any further price rises. It is keeping a close watch on the rising costs.
The company’s products are sold in major supermarkets such as Woolworths and Coles. It also sells through a network of independent stores.
Being able to source locally has allowed the company to absorb the higher costs associated with the rising prices of imported goods.
The company also experienced a boost from the increasing number of Australian consumers.
Even if a company offers a higher price than its local competitors the company would still consider the identity and country of origin of the potential buyer when it comes to making a decision regarding a sale.
He said that the company was well-positioned to continue its growth trajectory by increasing its production capacity at their facility.
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