Family-owned pie brand Mrs Mac’s has been sold to Aus Pie Co, following months of financial pressure and tough times as a result of the Covid-19 pandemic.
In July, The Australian Financial Review and The West Australian reported that Mrs Mac’s was seeking an emergency capital boost to pay down debt or attract a new owner to take control of the iconic brand.
AFR reported that KPMG’s advisers were quietly taking a handful of potential investors through due diligence.
The West Australian stated this week that it had “made inquiries after a filing with the corporate regulator late on Wednesday showed a creditor’s voluntary winding-up process of the 68-year-old company had begun. However the liquidation is only for the old corporate entity, with Mrs Mac’s to continue trading under the new owner”.
“The acquisition of the Mrs Mac’s ensures that the tradition continues and that Mrs Mac’s has a bright future ahead,” said Bruce Feodoroff, CEO at Aus Pie Co. “We have plans to revitalise the company with further investment and improve the range, without sacrificing the flavour’s Australians and New Zealanders love.”
Mrs Mac’s began in Perth as Bakewell Pies in 1954 and was started by the Macgregor family, moving from the city to its current Morley manufacturing headquarters in 1968.
Currently, Mrs Mac’s head office and factory are based in Perth, with an office in Sydney and representatives across Australia and New Zealand.
Coining the famous term “if it’s not a Mrs Mac’s, take it back”, the company employs more than 330 people and has produced more than 100 million pies, rolls and other pasties across Australia and New Zealand.
In September 2021, Mrs Mac’s introduced a new and improved bakery range to be sold at local supermarkets, petrol and convenience stores.
In 2018, the business underwent a rebrand, complete with a new logo, a fresh look and new packaging which highlighted the company’s 68-year history.
- The story was originally published on Smart Company. Original reporting by Inside FMCG.
