Growing Maggie Beer
$10 million of the $15 million Primary Opinion has offered to pay for a 48% stake in Maggie Beer Products (MBP) is to be used to grow the company. With annual sales in the vicinity of $20–$30 million, MBP is well situated to expand both locally and particularly in exporting to the Asian markets.
It is anticipated that a broadening of the product range within Australia will be the first step in the expansion process.
Already one of the largest employers in South Australia’s Barossa Valley, MBP currently manufactures around 200 food items and has presence in both of the major retailers.
Primary Opinion intends to fund the investment through a capital raising, subject to shareholder approval.
Stockbroker Tony Robinson will join the Maggie Beer Products board as a non-executive director if the deal goes through.
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