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Pure Foods Tasmania, the Australian food and beverage producer, has entered a binding agreement to acquire Sydney-based seafood brand Brilliant Food Australia.
The all-share transaction is valued at A$300,000 ($207,000), to be satisfied through the issuance of 7.5 million shares at A$0.04 ($0.027) each. Additionally, the vendor has agreed to subscribe for a further A$200,000 ($138,000) of Pure Foods Tasmania shares at a price of A$0.03 ($0.02) per share. According to the company, Brilliant Food Australia generates approximately A$1.3 million ($897,000) in annual revenue, representing a 24% uplift relative to the group’s 2025 revenue.
The acquisition follows a contract manufacturing arrangement established in November, where Pure Foods Tasmania produced the Brilliant Food Australia range of smoked seafood and rillettes at its Woodbridge facility. By taking full ownership, the company stated it would transition from a 12.5% contract margin to capturing the full product sales margin.
Pure Foods Tasmania executive chairman Malcolm McAully said: “Brilliant Food Australia is a proven, well-regarded brand with excellent product fit for our core business strategy. The acquisition increases utilisation of our Woodbridge facility and provides a platform to expand distribution of the product range through our existing network”.
The deal marks the latest expansion for the group, which completed the acquisition of Australian frozen dessert brand Elato Ice Cream in November to strengthen its portfolio.
Source: NewsNReleases / Pure Foods Tasmania / Food & Drink Business / Kalkine Media
