Pure Foods Tasmania snaps up ice-cream brand Elato

Core Insights - Pure Foods Tasmania (PFT) has completed the acquisition of Elato, a premium ice cream brand in Australia, for an initial consideration of A$50,000 in shares, with potential for additional shares based on performance milestones [1][2] Group 1: Acquisition Details - The acquisition includes all intellectual property, brand assets, recipes, and supply arrangements related to Elato Ice Cream [1] - PFT's new Ice Cream Division will combine Elato with The Cashew Creamery, creating a multi-brand platform for premium dairy and plant-based frozen desserts [2] Group 2: Management and Strategy - Elato's founder, Roz Kaldor-Aroni, has joined PFT as the general manager of the Ice Cream Division, focusing on sales growth, product development, and manufacturing optimization [2][3] - The company aims to leverage Kaldor-Aroni's industry experience to explore contract-packing and licensing opportunities, maximize existing production assets, and expand commercial reach [3] Group 3: Integration and Growth Plans - Integration of Elato is underway, with plans to consolidate ice cream production in Tasmania, expected to create at least three new skilled manufacturing roles [4] - PFT is also looking into new retail channels, licensing deals, and contract-packing partnerships to enhance growth [4] Group 4: Recent Performance and Future Projections - PFT's Tasmanian Pâté brand has seen significant growth, now available in approximately 700 Coles supermarkets, with initial orders exceeding previous monthly volumes by over ten times [5] - Management forecasts that the expanded distribution will contribute an additional A$500,000-600,000 in annualized sales, representing a 15% uplift to the Tasmanian Pâté revenue base relative to FY25 levels [5] - For the fiscal year ending June 30, 2025, PFT reported a narrowed net loss of A$2.8 million, with revenues declining 28% to A$5.39 million due to exiting unprofitable product lines [6]