Queensland pie maker and retailer Beefy’s is laying the table for a strategic investor to join the family-owned business.
Beefy hast nine stores on the Sunshine Coast, and a manufacturing operation in Kunda Park, also in Queensland. The business has 157 employees, and was understood to be making $14 million to $18 million a year in revenue.Acquisitions earlier this year to help find a strategic investor to join the register. The adviser has called for bids by September’s end, with a preference for an investor with experience in food retail.
Potential investors were told to think of Beefy’s as a strong brand that would benefit from the population growth on Sunshine Coast, and was ready to be rolled across rest of the state and into New South Wales and Victoria via owned or franchised stores. The teaser said Sunshine Coast was expected to grow to over half a million people by 2041 and add new dwellings, where Beefy’s could peddle its pies. It had more than 15,000 members in its rewards program and 13,000 odd social media followers.Like any credible pie business, Beefy’s had awards to flaunt. Its signature steak pie had won seven gold awards in seven consecutive years at the National Great Aussie Pie Competition, the flyer said.
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