SunRice Group, the Australian food manufacturer, has acquired local bakery, desserts and ready meals supplier KJ&Co Brands for AUD50m (US$37m).

The deal, which is expected to be finalised some time this month, will be conducted through the SunRice subsidiary Riviana Foods, a company based in Victoria producing condiments and sauces, snacks, seafood, vegetables, rice, pasta and desserts.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

KJ&Co Brands, based in New South Wales, is a diversified food business located in the Sydney suburb of Brookvale, supplying foodservice customers and Australian retailers Coles and Woolworths. It also has distribution in New Zealand.

SunRice said the acquisition would see the company take ownership of a K&JCo brand portfolio that includes bread-to-desserts brand Toscano, gluten-free brand Bare Bakers and Hart&Soul, under which products such as soups and ready meals are sold.

In the year to 30 June, KJ&Co Brands’ gross revenues stood at AUD59m. The management of KJ&Co Brands will be retained and transferred over to SunRice, according to a filing with the Australian Securities Exchange today (8 December). The business was co-founded by David and Lisa Molloy, with Charli Walters residing as its CEO.

SunRice chief executive Rob Gordon said: “This acquisition is strongly aligned to the SunRice Group’s 2022 growth strategy, and will complement the existing brands we have in our Riviana Foods’ business. The group has a keen focus on leveraging our strong balance sheet to pursue value-accretive merger and acquisition opportunities which further grow and diversify our earnings. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“KJ&Co Brands has experienced strong revenue growth and an increase of market share across key categories in recent years, and we believe there is potential to continue that growth.”

SunRice also supplies the retail and out-of-home channels in Australia with a portfolio that also encompasses Mediterranean foods, ingredients and animal feed. Its sales and profits dropped in the company’s recent financial year, which ended on 30 April, to AUD1.13bn (down 5%) and AUD22.7m (minus 31%), respectively.