Iconic Aussie pie brand Mrs Mac’s sold to mystery buyer
The family-owned pie brand has reportedly been sold to a mystery buyer, following months of financial pressure and tough times stemming from the COVID-19 pandemic.
Family-owned pie brand Mrs Mac’s has reportedly been sold to a mystery buyer, 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”.
According to Mrs Mac’s website, the company 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.
At the time Mrs Mac’s CEO Paul Slaughter, who was replaced by Jonathan Moss as chief executive in January last year, said in a release on the company’s website that the new branding was a chance to showcase the family-owned company’s history and a pledge to support local Australian suppliers wherever possible.
“The brand refresh is a great opportunity for us to showcase our rich history and ongoing commitment to quality. We make all of our products with the utmost care just as the Macgregor family did back in the 1950s,” he said.
“The promise is personal — we are committed to making nourishing food the traditional way.”
“We are passionate about fresh ingredients and supporting Australian producers. Our new branding captures our reinvigorated belief that if it’s not a Mrs Mac’s, you should take it back!”
Mrs Mac’s website states that it sources more than 80% of its ingredients in Australia. This includes 4800 tonnes of flour from premium wheat and 2800 tonnes of 100% Aussie beef each year.
State Labor Member for Morley, in Western Australia, Amber-Jade Sanderson said she was sad to hear the news about Mrs Mac’s.
“Very sad to hear the news of Mrs Mac’s liquidation — an iconic family-run business in Morley since 1957, and local employer,” she said.
“A very difficult time for employees and their families.”
Comments