Longtable Group, owner of Maggie Beer, Paris Creek Farm and Saint David Dairy, will seek shareholder approval to change its name to Maggie Beer Holdings at its annual general meeting on 16 July. In a statement to the ASX, the company said it would better reflect the principal brand of the company.
During COVID-19 lockdown, Maggie Beer filmed and aired a series of cooking shows on social media that generated more than 4.1 million views. “The ‘Cooking with Maggie’ series has helped increase brand awareness and the digital media footprint of the Maggie Beer Products business,” the company said.
The Maggie Beer Food Club also has more than 55,000 members, with the company now looking at opportunities in that area.
Maggie Beer, who is a non-executive director, said: “We have three unique and wonderful premium food businesses in our group and I am pleased that the Maggie Beer name can represent them all, as the group continues to grow and prosper.”
CEO Chantale Millard said: “The Maggie Beer name is iconic and is recognised internationally for its use of quality Australian ingredients and embodies the premium nature and ethos of all three businesses in the group.”
Sales of Maggie Beer products have increased since April and sales in May were higher than the same month last year.
Saint David Dairy was affected by hospitality closures, but sales are increasing after the initial impact.
Paris Creek Farm had strong sales in May and a year to date net sales growth of 5.5 per cent above last year. “It is no longer an operating cash drain on the group,” it said.
The board said it was unanimous in its view the recent appointment of Reg Weine as chair of Longtable had added “considerable value to the company in terms of strategic direction and discipline”.
The board will also seek approval to issue options under the company’s employee share option plan to Weine. It is considering an appropriate longterm incentive for Millard, with performance hurdles linked to improving the financial performance of the company and shareholder interests.
Weine was appointed as a non-executive director and board chair in March.
Chantale Millard was appointed CEO in December 2019 after the resignation of Laura McBain, CFO Michael Caragounis and the retirement of chair Tony Robinson in the space of five weeks (Food & Drink Business 04/12/2019).
