PEP’s Pinnacle Acquires Allied Mills from GrainCorp and Cargill Fund

PEP’s Pinnacle acquired Australian manufacturer of flour, bakery premixes and specialty frozen parbaked bread products Allied Mills, from GrainCorp and Cargill Fund.

Allied Mills will be integrated with PEP’s Pinnacle Bakery and Integrated Ingredients (“Pinnacle”) business. 

With over a century of flour milling and food ingredient manufacturing experience, Allied Mills annually buys and processes around 800,000 tons of wheat and specialty grains including maize, rye, triticale, organic hard, soft and noodle wheats.
Pinnacle manufactures sweet bakery products and bakery ingredients market, finished and unbaked goods such as cakes, pastries, cookies, muffins and donuts, as well as bakery ingredients such as fillings and fondants.
Allied Mills managing director Joseph Di Leo said: “Allied Mills has built a deserved reputation for innovative food solutions tailored to the changing needs of our customers. Our combination with Pinnacle will offer customers a one-stop-shop across bread and sweet bakery products. It’s an exciting time for the sector and with PEP committed to investing in the combined company’s strategic assets, there is very solid growth potential.”
Pinnacle CEO, Mr James Ajaka said: “Since acquiring Pinnacle, PEP has substantially increased investment in both R&D and manufacturing capability and demonstrated an unwavering focus on delivering great results for our customers. The combination of Pinnacle and Allied Mills offers a unique opportunity to generate value through category-leading innovation and technology solutions while embedding a world-class supply chain which can service more customers, more often.”

The combined group will become the leading player in frozen specialty baking, in-store baking and bakery ingredients with a compelling product range and service offering for all customers. The transaction is expected to close within two to three months.