Roma Foods has appointed asset manager Moelis to run a strategic review of the business’ market interest following an unsolicited buyout pitch last year.
The allergen-free food manufacturer produces a range of products including pasta, cereals, snack foods and baking mixes. Established in 1953, it exports to more than 70 markets worldwide.
MD Max Buontempo said he believes the company is an “attractive opportunity” for investment or acquisition.
“Following an unsolicited offer for Roma Foods last year, the directors decided the time is right to undertake a formal process to test market interest in the business. Moelis expects the process to be completed by early in the new financial year.”
Buontempo expects Roma Foods revenue will exceed $35 million during the next year and believes a new owner can accelerate its growth trajectory.
Sam Schachna, CEO said the company has made additional investments in its health food brands and is looking to expand industrial channels and private label offerings in mainstream categories.
The business’ manufacturing facility is located in Carrum Downs, Victoria. Its brands, including Orgran, Buontempo, and Pasta Roma, are sold in major supermarkets and independent stores across Australia.
