<article>Australia-based <a href="https://www.dealstreetasia.com/tag/pacific-equity-partners/">Pacific Equity Partners</a> (PEP) has entered into an agreement to sell bakery products maker Allied Pinnacle to Japanese Nisshin Seifun, per an announcement.</article>

Australia-based <a href="https://www.dealstreetasia.com/tag/pacific-equity-partners/">Pacific Equity Partners</a> (PEP) has entered into an agreement to sell bakery products maker Allied Pinnacle to Japanese Nisshin Seifun, per an announcement.
Nisshin said it will pay approximately 45.9 billion yen ($412.3 million) for all shares of Allied Pinnacle. The final acquisition price is subject to the company’s net debt at the time of completion of the transaction.
PEP owns a controlling interest of 98.9 per cent in Allied Pinnacle, Australia’s largest bakery ingredient supplier with around A$750 million ($533.3 million) in sales annually. The acquisition of the company will form an important part of Nisshin’s strategy of international expansion, the parties said.
Meanwhile, PEP managing director Tony Duthie said Allied Pinnacle held an important role in Australia’s food infrastructure.
“Nisshin’s global footprint and track record of continually investing in driving innovation perfectly matches our strategy of delivering our unique technologies and products to markets around the world,” said Allied Pinnacle CEO James Ajaka.
As part of its M&amp;A-led overseas expansion strategy, Nisshin has already completed seven acquisitions since 2010.
In Australia, the Japanese-listed food major said the wheat flour products market had high growth rate of about 1.6 per cent per annum and was projected for sustainable growth in the future.
Nisshin also revealed it could create synergy between operations of assets in Australia and New Zealand, where it bought Champion Flour Milling from Goodman Fielder.
Founded in 1900, Nisshin is Japan’s largest flour milling company with revenue of about $4.27 billion for the financial year ended 31 March 2018.
Meanwhile, PEP also has significant experience in consumer foods companies in both Australia and New Zealand. The firm is managing A$3 billion equity funds.
Also Read:
<a href="https://www.dealstreetasia.com/stories/uks-inspired-schools-said-to-acquire-nz-based-acg-unit-pacific-equity-exits-107133/">UK’s Inspired Schools said to acquire NZ-based ACG unit from Pacific Equity</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/pep-first-close-infra-fund-97385/">Pacific Equity Partners nears $300m first close for infra fund: Report</a>

Australia-based Pacific Equity Partners (PEP) has entered into an agreement to sell bakery products maker Allied Pinnacle to Japanese Nisshin Seifun.

Japan's Nisshin to acquire Allied Pinnacle from Pacific Equity Partners

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Japan's Nisshin to acquire Allied Pinnacle from Pacific Equity Partners

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief