Roma Foods has appointed MA Moelis Australia to canvas market interest and brief potential investors with a view to a sale of the business.
As Australia’s largest allergen free food manufacturer, Roma Foods products range from pasta to cereal to snack foods and baking mixes, creating over 40 new products over the past few years.
Max Buontempo, Managing Director of Roma Foods, said following an unsolicited offer for Roma Foods in 2021, the directors decided the time was right to undertake a formal process to test market interest in the business and that Moelis expects the process to completed by early in the new financial year.
“The process will investigate a range of options for the future of Roma Foods including a 100 per cent trade sale.
“With annual revenue forecast to exceed $35m in the next 12 months, we believe there is significant opportunity for a new owner or investor to accelerate the growth trajectory of Roma Foods by investing in its people, infrastructure and brands.”
Buontempo said that with a proven track record of growth and profitability over many years, Roma Foods is an attractive opportunity for investment or acquisition.
Roma Foods owns a manufacturing facility in Carrum Downs, Victoria, and following the award of government grants has commenced investing in additional plant and equipment which will significantly expand production capabilities.
Sam Schachna, CEO of Roma Foods, said that the company is in a strong position to take advantage of the changing market emphasis towards locally manufactured high growth plant-based and allergen free foods.
“The outcome of this process will be good for the business, our employees and our partners including customers and suppliers.”
“Our ambition is to create great food for healthier living and have a Roma Foods product in every family’s pantry. Together with the team we are proud of the growth and achievements over the last few years, and we are excited by the opportunities ahead.”