2 days Ago By Peter Holmes
Tempo – best known for its TVs, consumer electronics and appliances – is expanding its food footprint with the acquisition of the inventory and product contracts for Intermarkets Australia, which produces and imports private label products including shelf stable canned and jarred food products, sauce, and other pantry items. “Building on the success of the private label team and the recent acquisitions of Brunswick, Paramount, Nourish Foods and Organic Choice, Tempo’s ongoing strategy is to evolve into a strong multi-brand and multi-private label business focused on creating innovative healthier options for the entire family,” the company said. ChannelNews reported in October 2023 about Tempo’s acquisition of Nourish Foods, the family-owned company behind food brands Whole Kids, Offbeat and Just Add, which has been placed into voluntary administration.
Brands distributed by Tempo. “The acquisition of the Intermarkets product and contracts forms an important strategic investment for the Tempo Group and builds upon our focus in expanding our existing FMCG business within the shelf stable food segment,” said Tempo Executive Director Nicholas Stergiotis. Intermarkets was established in 1978 by Elie Obeid as a privately Australian-owned family business.
A search of the company’s website shows its private label condiments include crushed chilli, minced garlic, soy sauce, mustards, stir through sauces and tomato paste; baking products include cake mix, bread mix and felafel mix; and beverages such as Australian wine, coconut water and sports drinks. “I am entering my 80th year, and will retire in the knowledge that Intermarkets will be in good hands moving forward under the Tempo banner,” Obeid said. “My son Paul, who joined Intermarkets over 20 years ago, was the instigator of the merger and has been instrumental in the negotiations to reach these positive acquisition outcomes.
Paul will assist with the transition by joining the Tempo Group in the pursuit of driving their multi-private label business to greater heights.” Tempo Group supplies to retailers in Australia, New Zealand, the UK, US and Europe. It has offices in eight countries and more than 150 employees.
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