Deal bolsters Australian company’s capabilities in prepared and ready-to-eat fresh produce
Perfection Fresh will take a controlling interest in Tess Fresh, an Australian producer of processed and packed fruit and vegetables.
Michael Simonetta, chief executive of Perfection Fresh, said the deal will combine the operational capability and expertise of Tess Fresh with the national scale, retail customer relationships and consumer understanding of his company.
“Perfection Fresh is on a journey of our next phase of growth,” Simonetta explained. “To complement and expand on our current capabilities in fresh prepared and ready-to-eat fresh produce, Tess Fresh broadens that capability to unlock value for the entire value chain beyond where we are today.
“Convenient, ready-to-eat products will extend the Perfection Fresh portfolio beyond its current range, and that is a critically important component of our current strategic plan.”
Steve Tesoriero, director of Tess Fresh, said his company is a perfect fit for Perfection Fresh’s growth plans.
“Our existing customers, as well as potential new ones, will benefit from Perfection’s national sourcing and distribution network,” Tesoriero explained. “We’re extremely proud of what the Tess Fresh team has achieved over the past 30 years in the fresh produce industry.”
The acquisition is set to be finalised on 5 September. According to a release from Perfection Fresh, the integration of the two businesses will take several more months, with work sites for both companies remaining the same for the time being.
Tess Fresh business manager, Chantelle Tesoriero, will join Perfection Fresh management to lead the convenience division following the close of the deal.
“A focus on staff and our existing customer and supply partner relationships is vital to the success of this evolution,” said Tesoriero. “There’s enormous potential and opportunity ahead.”