The financial terms of the deal were not disclosed, but the transaction was carried out through ABF’s Australia and New Zealand business, George Weston Foods.
Based in Sydney, the firm is one of the largest consumer goods businesses in the region, currently employing more than 60,000 people across 60 locations. Its flagship brands include Tip Top, Top Taste and Abbotts Bakery.
Founded in 1996, Abe’s Bagels had been owned by private equity firms Marmont Capital and Altered Capital.
Its acquisition by ABF was confirmed in a LinkedIn post by general manager of sales and marketing Catherine Parlane, who wrote: “I’m proud to share that ABE’S Bagels has been acquired by George Weston Foods.
“It’s a moment that makes me incredibly proud to reflect on what this team has achieved together over the past few years.”
She continued: “Three‑and‑a‑half years ago, when I joined ABE’S, the business was approximately £14 million in revenue. Today, it has grown to more than £22 million. Achieving 56% growth for a 30‑year‑old brand is amazing, a testament to the strength of the brand and team behind it.
“Over this period, we’ve cemented ABE’S position as the clear market leader in bagels across Australia and New Zealand, with 75% market share, while growing the total category.”
This latest acquisition comes as ABF’s protracted takeover of British baking powerhouse and rival Hovis rumbles on.
The deal is still under review, as competition concerns on the Northern Irish market persist.
