Nissin Foods Co., the Hong Kong arm of Tokyo, Japan-headquartered Nissin Foods Holdings, has inked an agreement to purchase Sydney-based ABC Pastry, a leading manufacturer of frozen dumplings and juicy buns (soup dumplings) that are either company branded or packed under third party labels in Australia. Upon finalization of the deal, ABC Pastry will become a wholly-owned subsidiary of the Nissin Group engaged in the frozen food business throughout the Australian market, primarily selling into supermarket chains and Asian grocery stores.
The acquisition will position Nissen to strategically tap into the Australian frozen food market, which is expected to experience robust growth. The consumption of frozen dumplings, in particular, has increased significantly with rising Asian migration to the country. Additionally, there is ascending demand for convenient, high quality frozen foods driven by busy lifestyles and a growing appetite for international cuisine.
“This marks another milestone in our overseas market plan, soon after the joining of the Korean snack manufacturer Gaemi Food to the Nissin family in June,” said Kiyotaka Ando, executive director, chairman and chief executive officer of Nissin Foods. “The acquisition will allow us to diversify our product offerings and distribution channels and aligns with our long-term corporate vision and strategy of strengthening our presence in key overseas markets. By leveraging ABC Pastry’s extensive local network and premium frozen products, we are well positioned to enhance our connection with the local community and Australian consumers.”
Established in 1998, ABC Pastry is co-owned by the Gaoyang family and Min Investments. In the 12-month period through the end of June 2024, the company reportedly rang up sales of AU $15.2 million and a net profit after tax of AU $2.8 million.
About Nissin Foods Tokyo, Japan-headquartered Nissin Foods and its subsidiaries offer a diversified range of popular brands, primarily focusing on the premium instant noodle segment. The group established its presence in Hong Kong in 1984, where it ranks as the largest instant noodle company. In addition to dry noodles, it sells frozen dim sum and frozen noodles, and distributes beverages, snacks, sauces and vegetable products under the Nissin and Doll labels.
In the mainland China market, Nissin has introduced technology innovation through the “Eco Cup” concept and primarily focuses sales efforts in first-and second-tier cities. In addition, the company operates in other markets in Asia including Vietnam, Taiwan and Korea.
