Pace Farms may have a new owner with Roc Partners in pole position to buy the country’s second-largest egg produce.
Jessica Hromas
Last year, the latter – acquired in Roc’s role as the investment manager of the $250 million Victorian Business Growth Fund – merged with Murphy Fresh and Tatura Fresh to become the country’s largest grower of glasshouse tomatoes. It supplies to Coles and Woolworths. Nearly three-quarters of its sales were via major retailers including Woolworths and Coles, the documents said, and Pace Farm had invested more than $29 million in the business in the past three full financial years.
EBITDA was forecast to be nearly $40 million this year, with the company benefiting from growth in free-range shell eggs that were higher margin.
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