Rinoldi buys The Old Cookie Company
Written on the 22 October 2019 by Business News Australia
The same family-owned group that picked up the Byron Bay Cookie Company from administration in 2013 has now acquired a Yarra Valley icon to expand its portfolio.
Melbourne-headquartered Rinoldi is known for the Vetta, Nanda and Kookaburra pasta brands, but now it will also have The Old Colonial Cookie Company of Lilydale in the mix.
The company did not disclose how much dough it forked out for the purchase, which gives Rinoldi ownership of the Butterfingers range of shortbreads.
However, the Australian Securities and Investments Commission (ASIC) reports on 2 September The Old Colonial Cookie Company had entered liquidation with Glenn Anthony Crisp as the liquidator.
The cookie company's range has expanded to include sugar-free and gluten-free shortbreads, and is sold to major supermarket chains and foodservice outlets in Australia as well as through exports.
Rinoldi was established in 1878 and is now based in Mulgrave, but the company's main focus on acquisition has been to stabilise operations and production at Lilydale and to shore-up trade agreements with customers.
"As one of Australia's longest established food businesses, we have a strong heritage in wholesome food offering, and are pleased to be adding The Old Colonial Cookie Co. to our portfolio of premium quality brands," says Rinoldi director Bill Quayle.
"We look forward to working with the staff, suppliers and customers to continue growing this great local brand in Australia and overseas."
The acquisition of Old Colonial, established in 1981, also adds to Rinoldi's purchase of the Young Roller Flour Mill in 2012.Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Author: Business News Australia