Freedom Foods Group Limited
(ASX:FNP) has completed the acquisition of cereal and snack producer Popina Foods.
Freedom Foods has committed to the expansion of Popina’s production facility in Victoria to meet growing demand and facilitate expansion into Asian markets.
The capacity expansion is expected to be installed from mid-2016 and will provide for growth in sales and earnings from FY17.
The company also announced it has fast-tracked the launch into China of Freedom Foods “Arnolds Farm” products to coincide with Chinese New year promotional periods.
Freedom Foods Group recorded a net profit of $56.63 million at 30 June 2015.
