Associated British Foods Acquires Abe’s Bagels

Deal Summary

Associated British Foods, via its subsidiary George Weston Foods, has completed the acquisition of New Zealand bagel maker Abe’s Bagels. Financial terms were undisclosed, but the brand commands about 75% of the bagel market in Australia and New Zealand, generating over NZ$50 m (US$29.7 m) in revenue. The deal expands ABF’s food portfolio ahead of its planned demerger.