Patties Food Ltd

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Patties Foods Ltd (PFL)
- a leading manufacturer in Australia
Industry: branded frozen food industry

Major supplier and marketer of frozen savoury, dessert and fruit products.

It has some iconic Australia brands in each of these product categories. the largest pie company in Australia

Products:

frozen savoury products:
meat pies, sausage rolls, cheese and spinach rolls, pasties and quiches. Well-known frozen savoury brands:
Herbert Adams, Four’N Twenty, Snowy River and Wedgewood.

dessert products:
fruit pies, waffles, crumbles and crepes.
fruit products:
frozen whole fruits
(e.g. cherries, strawberries, cranberries and raspberries)
processed fruit products
(e.g. fruit smoothies that are cubes of frozen concentrated fruit which can be added to milk by the consumer to create a drink). Well-known dessert and fruit product brands:
Creative Gourmet, Nanna’s and Chef’s Pride.

Growth History:
a small cake shop in the Victorian country town of Lakes Entrance (origins back 50 years). then purchased in 1966 by the Rijs family
extended into pies and bread rolls
continued to grow (through acquisition & product development) Subsequently refocused around frozen savoury, dessert & fruit products Listed on the ASX in 2006.

Stakeholders:
2 members of Rijs family involved as board members.
Shareholders
Customers:
retailers (e.g. supermarkets) &
foodservice outlets (e.g. sporting venues or cafes).
Not direct consumers.

2 main distribution:
In-Home [retailers where products are bought for home consumption] & Out-of-Home [foodservice outlets where products are bought ready for consumption].

< 1% sales coming from exports,
despite moves to enter the US market with its Four’N Twenty products. Developed halal products in its Four’N Twenty range with the intention of growing sales in Asia. Its headquarters & production facilities are in Bairnsdale, Victoria.

A PFL’s strategic framework

PhasesBuild the baseDevelop and growExpand and extend
Outcomes• Low costs
• High customer service levels
• Defend the core
• Category leadership• New products
• Extra ranging
• Extra distribution
• More customers• New channels
• New regions
• New categories
• New sub-business

Executive leadership team focused effort on the ‘Build the Base’ phase of our strategic plan, - relentless drive to
build revenue &
reduce factory conversion costs
Result:
-improved trading

Rebuilt market share in In-Home savoury category(important)
Result:
- revenue increasing well over the category growth.

Our strong relationships with the major supermarkets
Result:
- enabled Patties’ brands to strengthen as market leaders.

Strategic intent of
- increasing our mix of revenue towards
foodservice & other non-grocery channels
[products sold through the Out-of-Home market].
Result:
- Out-of-Home revenue increased to another record level

Sales management
- restructured with a new Head of Sales (Tim Peters ex Fonterra) joining the business. Investment in sales resources in all regions of Australia
- ensures we have a truly national representation.

New products, across all channels
Result:
- increased sales

Exceptional technical expertise (due to well experienced Rijs Family)
Result:
- enabled the new products to be launched with rapid entry to market

New Four’N Twenty legendary Angus range
- developed and taken to commercialization stage during the year with the successful launch in June 2010. We expect this range to provide further growth in the near term.

Increased marketing for the premium range of Herbert Adams savoury products. - significant lift in sales in both In-Home and Out-of-Home channels achieved from the new TV commercial and consumer promotion celebrating Herbert Adams 100 years. Four’N Twenty brand

- increased exposure with the sponsorship of the AFL [national league] All...
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