Turi and OSI merge
OSI International Foods and Turi Foods have merged to form Turosi Pty Ltd. The 50/50 merger will bring together Turi Food’s expertise in Australian poultry farming and processing with OSI Group’s scale and reach so Turosi can offer a full range of food solutions to the marketplace.
Turi Foods and OSI will continue to operate their plants, out of Thomastown and Geelong, Victoria, while further processed products will continue to be manufactured at Broadmeadows in Victoria, Eagle Farm in Queensland and Blacktown in New South Wales, along with their various farming operations in Victoria.
Family-owned Turi Foods is one of the largest poultry processors in Australia, supplying major supermarkets, quick service restaurants, specialty chicken retailers, butcher shops and roast chicken outlets. Privately owned OSI supplies food solutions across a range of proteins to major quick service restaurants, foodservice markets and retail outlets across the Asia–Pacific region.
Grant Thornton acted for Turi Foods on all stages of the transaction from due diligence, to deal and complex tax structures, completion accounting and post-deal integration.
“OSI and Turi Foods have determined that a shared ownership will enable the organisation, whose cultures are similar, to share their expertise to build a world-class food solution group. We look forward to bringing together the dedicated teams at OSI and Turi Foods,” said Sam Cuteri, chairman of Turi Foods.
“OSI and Turi have each built businesses of strong reputation with the customers they serve. With the merger between OSI and Turi, we see tremendous potential to serve our customers in new, innovative ways and offer more opportunities for our mutual teams to excel together in this exciting organisation, Turosi,” furthered David McDonald, director of OSI.
The merger became effective on 4 May 2018.
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