Buyer found for Tasmanian headquartered business following voluntary administration
HS Fresh Food Group has been sold by administrators to PM Fresh Foods with the completion of the sale expected to occur on 31 July.
The Group, which includes HS Fresh Food, HS Fresh Food Holding, HS Fresh Farms and HS Salads, entered voluntary administration on 14 June 2024 with Ben Campbell, Joanne Dunn and Vaughan Strawbridge of FTI Consulting appointed administrators.
The multi-branded Australian farming, food processing and manufacturing business specialised in pre-prepared vegetables, fresh salads, ready-made meals, snacks.
Headquartered in Tasmania the business began as Houston’s Farm and combined three family businesses to create a national footprint with operations in Queensland, South Australia, Tasmania, Western Australia and New South Wales. It operated state-based brands including Houston’s Farm, Sunfresh and Gourmet Selections.
The administrators announced an agreement to sell the HS Fresh business to PM Fresh Food was signed on 8 July. HS Food will continue to operate under the control of administrators until the sale is finalised.
“The sale process resulted in a number of expressions of interest and non-binding indicative offers being received, but the PM Fresh offer was the best offer received,” the administrators said in a statement.
“Employees were advised of the sale in meetings that were held on Tuesday 9 July 2024, however, the final number of employees being offered future employment under the sale has yet to be communicated, as this will not be known until transition plans are finalised which are expected to be done over the next three weeks.”
